Freehold condo Botanika reaches new high of $2,535 psf

A new psf-price high was recently achieved at Bellerive, a freehold condo located along Keng Chin Road, off Bukit Timah Road in District 10. On Aug 24, a 958 sq ft, three-bedroom unit at the development was sold for $3.9 million, setting a new psf-price high of $2,323. This was previously held by a two-bedroom unit which transacted for $2.1 million, or $2,192 psf, on Feb 14.

Bellerive is a freehold condo developed by Sing Holdings, and was completed in 2011. It is on a 29,439 sq ft land area, and consists of 51 units, with two- to three-bedders between 958 and 1,647 sq ft. It is conveniently situated near the Stevens and Newton MRT Stations, and popular schools such as Singapore Chinese Girls’ School and Anglo-Chinese School (Primary) are within walking distance.

The newly achieved psf-price record is a significant jump, and demonstrates the gains to be had from investing in the area.

Located in prime District 10, freehold condo Botanika has also seen its own psf-price record broken. On Aug 28th, a 2,099 sq ft four-bedroom unit was sold for $5.32 million, setting a new psf-price record of $2,535. This was a notable achievement, beating its previous best of $2,457 psf from the sale of a 2,605 sq ft four-bedroom unit for $6.4 million in May 2007.

Botanika is a boutique residential development by Premiera Development, a subsidiary of Tuan Sing Holdings. It was completed in 2008, and consists of 34 units, ranging from two- to five-bedders between 1,098 and 3,746 sq ft. The sale of the unit on Aug 28 was actually the first resale transaction there in nearly two years, since the $6.5 million sale of a 2,906 sq ft unit in October 2021.

Pinewood Gardens, also located along Balmoral Park in District 10 and a freehold condo developed by City Developments, also set a new psf-price high recently. On Aug 25, a three-bedder unit sold for $3.05 million, which comes to $2,443 psf. This was the first time a unit at the development achieved a price above $2,400 psf, surpassing the previous psf-price high of $2,228 psf set when a 1,970sq ft unit transacted for $4.388 million in July last year.

Condo ownership in Singapore is seen as a sign of wealth and success. Buying a Condo is the logical step for those looking for more convenience, comfort and security than that provided by an HDB flat in Singapore’s public housing scheme. Investing in a Condo also provides more potential to generate income due to its higher appreciation rate when compared to an HDB flat.

Pinewood Gardens was completed in 1990, and houses 149 units, namely two- to four-bedders between 1,227 and 2,099 sq ft.

These freehold condos have seen remarkable growth in prices, and while there were no new psf-price lows recorded during the period in review, they are worth exploring if you are looking for real estate investments.