Fourth Avenue Residences Hits New High 2796 Psf
New psf-price highs were achieved for two condominiums in prime District 10, according to the latest transactions data for the week of Aug 22 to Aug 29. One of them was the sale of a 1,109 sq ft three-bedroom unit at Fourth Avenue Residences for $3.1 million ($2,796 psf). This set a new record for the condo, surpassing its previous high of $2,758 psf set in May 2023.
Developed by Allgreen Properties, Fourth Avenue Residences is a 99-year leasehold condo with 476 units offering a mix of one- to four-bedroom apartments of 474 sq ft to 1,496 sq ft. Completed in 2022, the development is located along Fourth Avenue, near Sixth Avenue MRT Station on the Downtown Line. It is also in close proximity to top schools such as Hwa Chong Institution, Nanyang Primary School, and Methodist Girls’ School.
Another condo that set a new psf-price high is Parvis, a freehold development on Holland Hill. The sale of a 1,701 sq ft, three-bedroom unit for $4.55 million ($2,675 psf) on Aug 29 marked the first time a unit at Parvis has crossed the $2,600 psf mark. This surpasses the previous record of $2,536 psf set in April 2021, when a 1,991 sq ft four-bedroom unit was sold for $5.05 million.
Completed in 2012, Parvis comprises a single 12-storey tower with a mix of two- to four-bedroom apartments ranging from 990 sq ft to 2,605 sq ft. It also has three- and four-bedroom penthouses measuring 2,293 sq ft to 3,229 sq ft. The development has seen three other resale transactions this year, with prices ranging from $2,115 psf to $2,391 psf.
On the other end of the spectrum, a new psf-price low was achieved at Orchard Sophia, a 78-unit freehold development located along Sophia Road in prime District 9. A two-bedroom unit on the first floor was sold for around $1.72 million on Aug 26, translating to a psf-price of $2,671. This marks the lowest price ever transacted at the development, below the previous record of $2,679 psf set on Aug 21 when a two-bedroom unit was sold for around $1.56 million.
Launched in 2023, Orchard Sophia offers one- to two-bedroom units ranging from 441 sq ft to 710 sq ft, as well as three-bedroom dual-key units of 764 sq ft and 829 sq ft to 840 sq ft. Based on lodged caveats, the average transaction price for units at Orchard Sophia has decreased since its launch in 2023, when it recorded 31 transactions at an average price of about $2,819 psf. In comparison, the development has seen 18 transactions this year at an average price of $2,797 psf.
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