Pullman Residences Newton records new high of $3,729 psf

November 3, 2023

Pullman Residences Newton topped a list of condos that saw new psf-price highs from Oct 10 to 16. The new high of $3,729 psf was achieved with the sale of a 463 sq ft, one-bedroom apartment for $1.73 million by the developer — EL Development, a subsidiary of Evan Lim & Co — on Oct 11. This beats the previous high of $3,671 psf, which occurred when the developer sold a similarly sized one-bedder for $1.7 million in May.

The Oct 11 sale was also the first time prices at the condo surpassed the $3,700 psf threshold. The freehold residential development is slated to be completed by the end of the year. Located along Dunearn Road in prime District 11, the 340-unit development consists of a 30-storey apartment block housing a mix of one- to four-bedroom units. Residents of the development will be able to enjoy hospitality services provided by Pullman Hotels & Resorts, including a concierge service, a doorman and an attendant at the club lounge.

Since the condo was launched in September 2019, the developer has sold 334 units (98%), based on caveats lodged with URA as of Oct 16. Another freehold condo, Skyline Residences, also saw a new high during the period in review. This came from the resale of a 484 sq ft one-bedder at $1.2 million ($2,477 psf) on Oct 12. The seller had bought the unit in July 2016 at $970,000 ($2,003 psf), which means they made a profit of $230,000.

The record-breaking sale beats the previous high of $2,436 psf from the sale of a 484 sq ft one-bedder for $1.18 million in August 2021.

Skyline Residences was developed by Bukit Sembawang Estates’ subsidiary, Bukit Sembawang View, and completed in 2015. Located along Telok Blangah Road in Bukit Merah (District 4), the condo has three 24-storey towers with 283 units. These range from 484 sq ft, one-bedroom apartments to four- and five-bedroom penthouses measuring 3,165 to 3,681 sq ft.

Based on caveats lodged by URA, the developer has sold 215 units (76%) since its launch in July 2011. Skyline Residences is around a five-minute walk to Telok Blangah MRT Station, and a few minutes’ drive to VivoCity, Mount Faber, Labrador Nature & Coastal Walk and the CBD.

Over in District 15, freehold condo Coralis achieved a new psf-price high of $2,255 with the sale of a 1,281 sq ft, three-bedroom unit for $2.89 million on Oct 11. This beats the previous high of $2,168 psf from the sale of a 807 sq ft two-bedder for $1.75 million in August 2021.

The Oct 11 sale was the first time that prices at the condo passed the $2,200 psf mark. It was also the first sale at the condo this year so far. Its last transaction occurred when a two-bedroom apartment measuring 861 sq ft changed hands for $1.8 million ($2,090 psf) in October last year. The seller had bought the unit in January 2015 for $1.36 million ($1,579 psf). This means that they made a profit of $440,000.

Coralis is located along Joo Chiat Road in Marine Parade, District 15. It was developed by TA Group Corp’s Grovehill and completed in 2013. The condo houses 127 units, including one-bedroom apartments from 475 sq ft to four-bedders from 2,842 sq ft.

No lows were recorded in the period in review.

More at: https://www.edgeprop.sg/property-new...-high-3729-psf