The Wharf Residence condo hits a new high of $2,421 psf
Sturdee Residences’ 99-year leasehold condominium also had a new psf record of $2192. On September 14, a unit measuring 420 sq. ft. and with a bedroom was sold at $920,000. This is the second time that this unit is sold. The owner purchased a one-bedder at $747,00 in June 2016.
It means that the owner earned a profit worth $173,000 This is 17th unit to be sold in the condo so far this year. Based on the caveats, the average psf cost of all the units that have been sold this past year is about $1.951 psf.
Sturdee Residences consists of two 30 storey towers that are located on Beatty Road at Kallang in District 8. The condos total 305. This includes a mixture of one- to four-bedroom units, ranging in size from 412 to 1,830 sf.
The property is developed by SL Capital a subsidiary of Sustained Land, a local developer. Bendemeer MRT Stations, and Farrer Park MRT Stations can be reached on foot.
In August 2018, one year before completion, the entire project was sold. The condo sold 40%, or 122 units during its VIP preview in 2016. This was at a price of an average $1.550 psf.
The prices started at $680,000, which is for a 420-square-foot, one-bedroom condo, to $3.2million, which is for an 1,830-square-foot, five-bedroom Penthouse. The location of the property on the edge of town and its close proximity to MRT stations are responsible for its high occupancy rate.
Sturdee Residences’ average monthly rents range from $2.50 per sq. ft. to $9.5. The average rental yield is 4.1%.
The Wharf Residencies, a leasehold condo with a term of 999 years, led a list that included condos which saw new psf prices between Sept. 12 and 19.
It happened when a two-bedroom, 1,066-square-foot unit in the condo was sold for $2.58million, or $2.421 per square foot. The unit was purchased by the owner for $2.4M ($2,252psf) in May 2018, resulting in an $180,000 profit.
This is the third transaction in this property’s history. The first sale was in April when a 1,033 sf two-bedder sold for 2,46 million dollars ($2,381 sq ft psf). The second deal involved a 2,066 sq ft two-bedder, sold in May at $2.33m ($2,186psf).
Terra Hill showroom is located along South Buona Vista Road.
The Wharf Residence in District 9 is developed by Leonie Court. It is a wholly owned subsidiary of CapitaLand. The development consists of 4 blocks of condominiums ranging in height from 10 to 23, located along Tong Watt Road. It was completed and comprises 186 units in 2012.
EdgeProp Landlens indicates that the property can be accessed via Fort Canning MRT Stations and Great World MRT Stations.
It is also located near Ngee Ann-Adelaide Education Centre (NEAEC) and River Valley primary school.
Freehold condos Robertson 100 saw a new peak in psf prices during the period reviewed at $2304 psf. This comes after a sale of 872 square feet, two-bedroom units for $2.088,888, on September 18. The unit was bought in May of 2019 for around $1.59 million or $1.827 per sqft. This translates into a $415.888 gain for the buyer.
This latest transaction surpassed the previous record $2,251psf. In April, a 1,044sq ft 3-bedder was sold for 2,35 million dollars, or $2.251psf.
Robertson 100 has 186 units and was completed by 2004. MCL Land was the developer, which is owned by Hongkong Land Holdings and Jardine Matheson.
River Valley in District 9 is located on Robertson Quay. Great World MRT Station as well as Havelock MRT Stations are within walking range.