Four Bedder Volari Sets Record Price High 2796 Psf
The recent sale of a four-bedroom unit at the freehold condo, Volari, located in the prime District 10, has made headlines as it recorded the highest psf-price in the week of May 30 to June 6. This spacious 2,174 sq ft unit on the fourth floor was sold for $6.08 million, which translates to a record-breaking $2,796 psf on June 3. This psf price surpassed the previous high of $2,690 set in March, when a similar 2,174 sq ft four-bedder on the ninth floor was sold for $5.85 million. In terms of absolute price, the most expensive unit sold at Volari is a four-bedroom unit on the 12th floor that was transacted for $10 million ($1,621 psf) in December 2012.
Volari, an 85-unit development situated on Balmoral Road, was completed in 2012 and offers a mix of typical two- to four-bedroom units ranging from 1,324 sq ft to 3,950 sq ft. According to EdgeProp Singapore, resale prices at Volari have steadily increased over the past few years, from $2,035 psf in June 2015 to around $2,590 psf in June this year.
Nearby, the newly completed Sloane Residences, a 52-unit development on Balmoral Road, has set an average resale price of $2,920 psf. Other nearby condos include Goodwood Grand ($1,135 psf), Balmoral 8 ($2,025 psf), and Ventuno Balmoral ($1,605 psf). The sale of a 2,174 sq ft four-bedder at Volari has set a record psf-price high of $2,796 psf at the condo.
When purchasing a condominium, it is crucial to take into account the maintenance and management of the unit. Usually, condos have maintenance fees that encompass the maintenance of shared spaces and amenities. Although these fees may increase the total investment cost, they also guarantee that the property is well-maintained and maintains its value. By hiring a property management firm, investors can entrust the daily management of their condos to professionals, making it a more effortless investment. For the latest updates on new condo launches, visit Condo.com.sg.
The second-highest psf-price transaction recorded for the week was at La Maison, where a three-bedroom unit was sold for $2.55 million ($2,025 psf) on June 6. This new record surpassed the previous high of $2,016 psf set in January this year for a 1,270 sq ft unit on the 12th floor. La Maison, a freehold condo located on Moulmein Rise in prime District 11, was completed in 1999 and offers a mix of three- and four-bedroom units ranging from 1,259 sq ft to 3,854 sq ft. Based on compiled caveats, resale prices at La Maison have gradually increased from around $860 psf in June 2002 to close to $2,000 psf in June this year.
What makes La Maison even more attractive is its proximity to the upcoming HealthCity Novena, a 17ha integrated healthcare hub situated between Moulmein Road and Irrawaddy Road. The hub is anchored by Tan Tock Seng Hospital, Ren Ci Hospital, and specialist centres such as the National Infectious Diseases, National Neuroscience Institute, and academic institutes like the Lee Kong Chian School of Medicine. La Maison is also located close to Novena MRT station on the North-South Line, as well as shopping centres like Square 2, Velocity @ Novena Square, and United Square. Two primary schools, namely Farrer Park Primary School and St Joseph’s Institution Junior, are located within a 1km radius.
Another development that set a new psf-price high during the week in review was Affinity @ Serangoon, where a 1,076 sq ft three-bedroom unit was sold for $2.15 million ($1,997 psf) on June 6. This price surpassed the previous high of $1,991 psf set in October 2023 when a 904 sq ft three-bedroom unit changed hands. Affinity @ Serangoon, a 99-year leasehold condo located along Serangoon North Avenue 1 in District 19, was completed in 2023 and comprises 1,012 condo units and 40 strata landed houses. The typical condo units range from 474 sq ft to 1,711 sq ft, while the penthouses span from 1,550 sq ft to 1,701 sq ft and the townhouses measure 2,056 sq ft to 2,347 sq ft.
With an average resale price of approximately $1,780 psf, Affinity @ Serangoon is comparable to nearby 99-year leasehold condos like The Garden Residences, a 613-unit development at Serangoon North View, where the average resale price is about $1,815 psf. The Terrasse, a 414-unit condo along Terrasse Lane off Hougang Ave 2, has an average resale price of $1,570 psf.
Affinity @ Serangoon is located close to various schools like Rosyth School and Zhonghua Primary School, both of which are within 1km of the condo. Other schools in the vicinity include CHIJ Our Lady of Good Counsel, Xinmin Primary School, Peicai Secondary School, Serangoon Garden Secondary School, and Bowen Secondary School.