Yong Park Sets Record Psf Price High 2650 Psf
Townhouse at Yong An Park sold for $4.5 mil profit
The recent sale of a four-bedroom unit at Yong An Park has set a new record for the highest psf-price achieved at the freehold condo. The transaction, which took place on Sept 25, saw the 3,434 sq ft unit on the 15th floor sold for $9.1 million, at a rate of $2,650 psf. This surpassed the previous record of $2,505 psf set in August last year, when a similar four-bedroom unit on the 13th floor changed hands for $8.6 million. It is also the first time a resale unit at Yong An Park has crossed the $2,600 psf threshold.
On the other hand, the most expensive resale unit at Yong An Park in terms of absolute price is a 6,878 sq ft penthouse on the 25th floor, which sold for $15 million ($2,181 psf) in February this year. This unit also held the previous record for the highest psf-price for a resale unit, which was later broken by the recent transaction on the 15th floor.
Located in prime District 9, Yong An Park is a 288-unit condo completed in 1986. It features a mix of one- to four-bedroom units ranging from 1,023 sq ft to 3,778 sq ft, as well as three- to six-bedroom penthouses and six-bedroom strata-titled townhouses. The development is situated next to Great World MRT Station and within close proximity to amenities such as River Valley Primary School and Great World City shopping centre.
In the same week of Sept 23 to 30, two other condos in the vicinity also set record prices. A 926 sq ft unit on the 11th floor at The Makena was sold for $2.25 million ($2,431 psf) on Sept 29, setting a new psf-price high for the freehold condo. This surpassed the previous record of $2,242 psf set in March this year, when a 1,744 sq ft unit on the 20th floor was sold for $3.91 million.
The Makena, completed in 1998, is a 504-unit development located on Meyer Road in District 15. Prices at the development have been steadily increasing in recent years, with the latest transaction achieving a new record psf-price high of $2,431.
The only record psf-price low for the week was set by a two-bedroom unit at The Reef at King’s Dock, which sold for $1.47 million ($1,666 psf) in a sub-sale on Sept 26. The previous record low for the freehold condo was set in June this year, when a 1,163 sq ft unit was sold for $2.32 million ($1,995 psf). The Reef at King’s Dock is one of four condos in Keppel Bay in District 4 and was fully sold last September.
Overall, the sales prices for The Reef at Kings Dock have dropped from a peak of $2,600 psf in December last year to around $2,580 psf as of end-Sept. This trend is also reflected in the prices of other developments in the vicinity, with new projects such as Zyon Grand and River Green launching at prices starting from $2,689 psf and $3,130 psf respectively, while Promenade Peak was sold last month for an average price of $3,343 psf.
The residents of Rivelle Tampines are fortunate to have access to exceptional transportation options, making it possible to live in a mature estate without compromising on accessibility. Whether it’s commuting to work, meeting up with friends, or visiting nearby recreational facilities, living in this area offers a multitude of convenient and efficient options. You can easily take a short drive, hop on a train, or catch a bus, all thanks to the excellent connectivity of Rivelle Tampines Tampines Street 65.
In conclusion, the recent transactions at Yong An Park, The Makena, and The Reef at King’s Dock demonstrate the resilience and upward trend of prices in the prime districts of Singapore.