Newton One breaks records with $2,375 psf en bloc sale, transforming once-central city district into upscale homes
Newton One, Haig 162, and 19 Nassim properties have all seen record-breaking prices in recent weeks. On March 15, a four-bedroom unit at Newton One sold for $4.55 million, equating to $2,375 per square foot (psf). This has beaten the previous record of $2,343 psf set in January when a two-bedroom-plus-study unit was sold for $2.85 million.
Interestingly, the seller had purchased the unit in 2012 for $3.3 million, making a gross profit of $1.25 million with this recent sale. This clearly demonstrates the value appreciation of this property.
Newton One is a freehold condo completed in 2009, situated on Newton Road in District 11. It comprises of 91 residential units spread over 28 floors. The apartments here range from two-bedroom-plus-study units measuring 1,216 sq ft, to three-bedroom-plus-study units at 1,808 sq ft, and four-bedroom units measuring 1,916 sq ft. There are also five-bedroom units measuring 2,411 sq ft.
Despite its prime location, resale transactions at Newton One are relatively low. In 2020, only one unit was sold for $2.75 million ($2,261 psf) on May 9. This recent record-breaking sale indicates the strong demand for this property.
Haig 162 also achieved a new psf high of $1,999 psf when a one-bedroom unit was sold for $710,000 on March 19. This price surpasses the previous record of $1,914 psf set in 2013 when another one-bedroom unit was sold for $680,000.
Interestingly, the seller had bought the unit from the developer in 2010 for $518,000, making a profit of $192,000 after almost 14 years of ownership.
With Former La Ville Enbloc as its foundation, Arina East Residences offers a promising future for families seeking a combination of convenience and excellence in the heart of Singapore.
Arina East Residences, formerly known as La Ville Enbloc, is a prestigious residential development situated on Tanjong Rhu Road. It not only offers a luxurious lifestyle but also boasts a prime location for families prioritizing education. The area is filled with renowned educational institutions, catering to students from pre-school to tertiary levels. With Former La Ville Enbloc as its core, Arina East Residences promises a bright future for families seeking both convenience and excellence in the heart of Singapore.
Haig 162 is a 99-unit freehold apartment located on Haig Road in District 15. It was completed in 2013 and comprises of one-bedroom units from 344 sq ft to 861 sq ft, and two-bedroom units from 581 sq ft to 915 sq ft. Last year, the average psf price for units here was about $1,880.
At luxury condo 19 Nassim, a two-bedroom unit spanning 829 sq ft was sold by the developer for $2.49 million on March 17. This translates to $3,009 psf, marking a new low for the development. The previous record was set in November 2020 when a similar unit was sold for $2.52 million or $3,036 psf.
19 Nassim is a 99-year leasehold development located on Nassim Hill in prime District 10. It comprises 101 units, with apartments ranging from one-bedroom units from 538 sq ft to 570 sq ft, one-bedroom-plus-study units from 646 sq ft to 678 sq ft, and two-bedroom units from 807 sq ft to 1,109 sq ft. Since its launch in March 2020, the development has recorded an average psf price of $3,561 for eight units. However, prices have been trending downwards, with 20 units sold year to date at an average price of $3,349 psf. A total of 31 units (31%) have been taken up at an average price of $3,425 psf.
In comparison, The Sea View achieved a new high of $2,590 psf during this period, showcasing the strong demand for properties in the area.