Freehold luxury condo The Botanic on Lloyd achieved a record-high psf-price for private non-landed developments, setting a new benchmark for the period between Jan 3 and Jan 11. The new price peak was achieved following the sale of a 2,056 sq ft, four-bedroom unit on the second floor for $5.13 million, or $2,493 psf on Jan 7.Freehold condo The Botanic on Lloyd has set a new psf-price record for private non-landed developments between Jan 3 and Jan 11. The new price peak was achieved after the sale of a 2,056 sq ft, four-bedroom unit on the second floor for $5.13 million, or $2,493 psf, on Jan 7. The new record price surpasses the previous high of $2,339 psf set in October last year.Freehold luxury development The Botanic on Lloyd, located along Lloyd Road in prime District 9, has achieved the highest psf-price among private non-landed developments between Jan 3 and Jan 11. The new price record was set after the sale of a 2,056 sq ft, four-bedroom unit on the second floor for $5.13 million, or $2,493 psf, on Jan 7. This new record surpasses the previous high of $2,339 psf set in October last year, representing a 6.6% increase.Transactions at the 66-unit development have been scarce over the past decade, averaging only one transaction per year. Prior to the October 2024 sale, the last unit to be sold at The Botanic on Lloyd was a 3,584 sq ft, four-bedroom unit that was sold for $6.88 million ($1,919 psf) in January 2022, which was also the highest-priced unit to be sold at the development by absolute price. The new record psf-price is a testament to the desirability and exclusivity of the development.Completed in 2006, The Botanic on Lloyd is a freehold boutique development with 60 apartments and six townhouses. The units are a mix of three- and four-bedroom configurations, ranging from 1,485 sq ft to 3,584 sq ft, while the three-storey townhouses measure between 4,058 sq ft to 4,446 sq ft in size and come with five bedrooms and two private parking lots each.In addition, another freehold development, The Cape, has achieved the second-highest psf-price among private non-landed developments that recorded a new price high during the period in review. A 1,313 sq ft, three-bedroom unit on the 15th floor was sold for $3 million, or $2,284 psf, on Jan 10, surpassing the previous record of $2,265 psf set when a 1,539 sq ft, two-bedroom unit on the 16th floor was sold for $3.49 million in November 2012.Trend of deals and sales at The CapeThe average price of units at The Cape has been on an upward trajectory in the past year, in line with an increase in transactions. In 2024, there were three resale deals at an average price of $2,128 psf, while in 2023, only one unit was transacted – a 646 sq ft, one-bedroom unit that sold for $1.24 million ($1,920 psf). Completed in 2014, the 76-unit freehold development is located along Amber Road in prime District 15 and consists of one- to three-bedroom units ranging from 570 sq ft to 1,539 sq ft.Upcoming condo Tembusu Grand also recorded a new psf-price low of $2,174 psf on Jan 11, following the sale of a 1,399 sq ft, three-bedroom unit on the 20th floor for $3.04 million. This breaks the previous record of $2,193 psf set in November 2024, when a similarly sized unit was sold for $3.07 million. Compared to the recent sale, the new psf-price at Tembusu Grand has dropped by 0.9%, suggesting a slight decrease in demand for the development.In terms of transactions, Tembusu Grand has recorded 584 units sold (91.5%) at an average price of $2,444 psf since its launch in April 2023. The condo is a 99-year leasehold project located along Jalan Tembusu, off Tanjong Katong Road in prime District 15. It features a diverse range of apartment types, from one- to five-bedroom units spanning 527 sq ft to 2,691 sq ft in size. As of Jan 20, the condo is expected to receive its Temporary Occupation Permit in 2028.The recent transactions at The Botanic on Lloyd, The Cape, and Tembusu Grand underscore the robust demand and appeal of freehold properties in prime locations. Despite the current economic climate, buyers are still willing to pay a premium for these developments, with prices continuing to climb. As such, owners of freehold properties in desirable locations can expect to continue seeing strong demand and potential for capital appreciation in the long run.
Investing in a condominium in Singapore has emerged as a favorable option for both domestic and international investors, thanks to the country’s strong economy, stable political climate, and exceptional quality of life. The real estate market in Singapore is brimming with possibilities, and one type of property that is gaining significant attention is the condo. Its convenient location, attractive amenities, and potential for lucrative returns make it a top choice for investors. In this article, we will delve into the advantages, factors to consider, and necessary steps to take when investing in a condo in Singapore. Additionally, you can explore new condo launches on Siteismi.