Three-bedder at Jervois Prive fetches new high of $3,220 psf

upon sale

Jervois Prive witnessed a record breaking sale on April 17, when a 1,109 sq ft, three-bedroom unit was sold for an impressive $3.57 million ($3,220psf). Located in prime District 10 of Singapore, Jervois Prive is the maiden project of property developer Midas Land and a 43-unit boutique development. This week’s sale at Jervois Prive saw the highest psf-price among condos and its previous record was for a 710 sq ft, two-bedroom unit which sold for $2.13 million ($3,000 psf).

The unit at Jervois Prive is located in the Chatsworth Park Good Class Bungalow Area and other nearby freehold condos include Jervois Meadows and Dormer Park, both located in Jervois Road. Azccording to URA, the develper has sold six units to date, including the most expensive unit sold on June 6, 2019, which was a 1,389 sq ft three-bedder for $3.91 million ($2,817 psf).

Not to be outdone, a 1,259 sq ft unit at Botanic Gardens View sold for $3.68 million ($2,922 psf) on April 20, and earlier in August 2019 a 1,615 sq ft unit fetched $4.07 million ($2,521 psf). Botanic Gardens View is a 144-unit freehold development off Cluny Road in prime District 10 and is near amenities such as Ion Orchard, Far East Plaza and Lucky Plaza, as well as Raffles Girls’ Secondary School and Botanic Gardens. It has seen strong price appreciation, with an average price of $1,468 psf in April 2013 increasing to $2,588 psf in April 2021.

Investing in a luxury condominium in Singapore offers potential for high rental yields, Singapore Condo capital appreciation and low maintenance costs and taxes.

The Atelier, a freehold development located at Makeway Avenue in prime District 9, saw the lowest psf-price for a development during the week when an 872 sq ft, two-bedroom unit sold for $2.16 million ($2,479 psf) on April 21. Launched in March 2021, the 120-unit development is 54% sold at an average price of $2,683 psf, and is near Newton MRT Station, Anglo-Chinese School (Junior), LaSalle College of the Arts (Winstedt Campus) and Newton Food Centre.

It is evident that in-demand prime districts continue to attract premium prices for property investments and the impressive prices at Jervois Prive, Botanic Gardens View and The Atelier further attest to the same.