In the week of Feb 1 to 7, 8M Residences achieved a new high of $2,384 psf when a two-bedroom unit spanning 646 sq ft was sold for $1.54 million. This marks the first time a unit at the development has been sold for more than $2,300 psf. The record-setting sale surpasses the previous peak of $2,261 psf set in April 2023.The 8M Residences is a freehold development completed in 2017 with 68 units. It comprises one- to three-bedroom units and penthouses ranging from 517 to 1,841 sq ft. Over the last three years, resale prices at the condo have consistently risen, increasing 7.3% from an average of $2,028 psf in February 2022 to $2,177 psf in February 2025.Situated within walking distance of EtonHouse International Research Pre-School, Katong Swimming Complex, and Katong Park MRT Station, the condo offers convenient access to amenities and schools.Meanwhile, Kovan Jewel, a 34-unit boutique condo along Kovan Road in District 19, took second place on the list with the sale of a three-bedroom unit at $2.41 million on Feb 7. This sets a new high of $2,236 psf for the development, surpassing the previous peak set in August 2023 at $2,228 psf. Completed last year, Kovan Jewel comprises freehold one- to three-bedroom units and four-bedroom penthouses ranging from 624 to 2,153 sq ft. As of Feb 18, 17 units (50%) have been sold at an average price of $2,111 psf, with the first unit sold this year being the three-bedroom unit on the second floor.On the third spot is Oleanas Residence, where a 1,141 sq ft, three-bedroom unit on the sixth floor was sold for $2.52 million on Feb 3, setting a new record of $2,207 psf. This surpasses the previous peak of $2,157 psf set in August 2022. The most expensive resale unit at the condo is a 1,636 sq ft, three-bedroom unit that sold for $3.3 million ($2,017 psf) in December 2022. The freehold condo, situated along Kim Yam Road in District 9, comprises one- to four-bedroom units ranging from 1,141 to 2,152 sq ft and was completed in 1999.Over the last three years, Oleanas Residence has recorded just four resale transactions, with the highest transacted price being $3.3 million ($2,129 psf) for a 1,550 sq ft, four-bedroom unit in April 2024. It is within walking distance of Great World MRT Station and Fort Canning MRT Station and is surrounded by educational institutes such as River Valley Primary School and Outram Secondary School within a 1km radius.
Investing in a condo in Singapore offers several advantages, with one of the most prominent being the potential for capital appreciation. Singapore serves as a crucial global business center, alongside its solid economic foundations, which fuels a constant demand for real estate properties. Throughout the years, the real estate market in Singapore has exhibited a consistent upward trend, especially for condos situated in prime locations, resulting in substantial appreciation. For those who invest at the right time and hold their properties for a considerable period, the potential for significant capital gains is high. With the inclusion of a desirable Condo in this thriving market, investors can enjoy even more promising returns.