A three-bedroom unit at One Holland Village Residences has emerged as the top-performing private condo in terms of psf-price during the period of Feb 16 to 21. The 1,238 sq ft unit, located on the 25th floor, was sold for a record-breaking $4.68 million, or $3,781 psf, on Feb 17. This marks the first transaction at the 99-year leasehold development this year, and sets a new benchmark for prices achieved at the project.
The sellers of the unit purchased it from the developer in November 2023 for approximately $4.19 million, or $3,385 psf. This translates to a profit of approximately $490,000 for the sellers. The recent transaction has surpassed the previous record of $3,426 psf set by the developer for a 2,088 sq ft, four-bedroom unit that sold for $7.15 million in August 2022.
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However, as with any investment, careful consideration is crucial when venturing into the Singapore condo market. One important factor to keep in mind is the additional buyer’s stamp duty (ABSD) imposed on foreign home buyers. This tax ranges from 12% to 20% of the property’s purchase price, depending on the buyer’s residency status. Local buyers are also subject to the ABSD, but at a lower rate.
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Finally, it is vital to understand the legal obligations and taxes associated with owning a Singapore condo, such as property tax and maintenance fees. Being aware of these will allow for effective planning and budgeting for your investment.
In conclusion, investing in a condo in Singapore offers numerous benefits, but also comes with its own set of challenges. With thorough research, strategic planning, and the guidance of knowledgeable professionals, a Singapore condo can prove to be a highly profitable and rewarding investment. Consider adding Singapore Condoto the rewritten paragraph for SEO purposes.
One Holland Village Residences, a 296-unit development located along Holland Village Way, was launched in 2019. It comprises 62 one-bedroom units at 484 sq ft, 145 two-bedroom units ranging from 689 sq ft to 1,087 sq ft, and 76 three-bedroom units spanning 1,098 sq ft to 1,281 sq ft. The remaining units include nine four-bedroom apartments from 2,088 sq ft to 3,358 sq ft and four five-bedroom units spanning 3,455 sq ft. According to URA caveats, all units at the development have been fully sold.
The most expensive unit transacted at One Holland Village Residences by absolute price was a 3,455 sq ft, five-bedroom apartment sold for $11.4 million ($3,300 psf). The unit sold on Feb 17 is the first transaction at the development since August 2023, when a 1,087 sq ft, two-bedroom unit was sold by the developer for $2.98 million, or $2,741 psf.
Scheduled for completion in November 2029, One Holland Village Residences is a four-minute walk from Holland Village MRT Station and is situated next to the lifestyle hub One Holland Village.
The second-highest psf-price for the period in review was achieved by Hill House, a 72-unit boutique condo located at the top of Institution Hill, off River Valley Road in District 9. On Feb 21, a 452 sq ft, two-bedroom unit on the ninth floor was sold for a record-breaking $1.538 million, or $3,402 psf. This follows the sale of another 452 sq ft, two-bedroom unit on the eighth floor for $1.536 million ($3,398 psf) on Feb 16.
Including the latest transaction, a total of nine Hill House units have been sold since the start of the year at an average price of $3,213 psf. The development comprises 40 one-bedroom units at 431 sq ft, 24 two-bedroom units ranging from 452 sq ft to 624 sq ft, and eight 753 sq ft three-bedroom apartments.
Hill House is situated five minutes from River Valley Primary School and in close proximity to shopping malls such as New Bahru. The development, which is expected to be completed in 3Q2026, has a total of seven units for sale on PropertyGuru. The most affordable unit available is a 614 sq ft, one-bedroom unit priced at $1.788 million ($2,908 psf).
Chuan Park, a 916-unit condo located along Lorong Chuan in District 19, recorded the third-highest psf-price for the period in review. On Feb 19, a 732 sq ft, two-bedroom unit on the 20th floor was sold for $2.04 million, or $2,785 psf. This narrowly surpasses the project’s previous record of $2,765 psf set in November last year, when a 743 sq ft, two-bedroom unit was sold for $2.05 million.
Chuan Park offers two- to five-bedroom apartments ranging from 700 sq ft to 1,841 sq ft, and has sold 744 units (81%) at an average price of $2,589 psf since its launch in November 2024. The development, which is currently under construction, is expected to be completed in 2028. Located close to Lorong Chuan MRT Station on the Circle Line, Chuan Park is also situated near Nanyang Junior College.