Above $5,000 psf, CCR luxury condos reach new heights in pricing

Above $5,000 psf, CCR luxury condos reach new heights in pricing

This year, the resale value of two opulent condos in the Core Central Region (CCR) has increased to above $5,000 per square foot. Both Skyline at Orchard Boulevard and Sculptura Ardmore were the most expensive condos between January 1 and December 5.

The majority of the top 15 on the list are a combination of well-established upscale buildings in desirable Districts 9 and 10, as well as newly constructed luxury projects. The addition of South Beach Residences, Midtown Modern, and Midtown Bay to the list could indicate the beginning of a new excellent sector along Beach Road.

Executive condominiums (ECs) make up five of the projects that established records this year. a few upscale developments in suburban areas saw a decrease in pricing in 2023 as well.

The Continuum

A luxurious condo on Angullia Park called The Continuum Condo was the most expensive condo to reach a new high for price per square foot during the period under consideration. In February, a three-bedroom apartment on the 31st floor sold for a record $5,371 per square foot. The unit, measuring 3,767 square feet, was sold for $20.23 million.

The previous price peak of $5,011 per square foot was reached in 2012 when a 3,767-square-foot apartment on the 27th level sold for $18.89 million. This is a significant increase in value. The buyer bought the apartment straight from the developer.

Completed in 2015, the 40-unit Skyline The Continuum Showroom features condos with two to four bedrooms, ranging in size from 1,744 to 3,767 square feet. The Orchard Road retail district is easily accessible on foot from the complex.

With an average resale price of $5,371 per square foot, Skyline @ Orchard Boulevard is the most expensive condo along Angullia Park. Boulevard Vue, located across the street, has an average resale price of almost $3,504 per square foot, which is higher than other complexes like Twentyone Angullia Park ($3,297 per square foot), Paterson Linc ($2,365 per square foot), and the $2,404 psf Angullia Park Residences @ Orchard.

Of the condos that experienced a new peak in price per square foot between January 1 and December 5, Sculptura Ardmore ranked second. In April, a 3,584-square-foot apartment on the 23rd floor sold for $18 million, or $5,022 per square foot. This flat, which also set a record when it was sold for $16.8 million ($4,687 psf) in 2019, is the subject of a second caveat.

The prices at Nassim Park Residences in the upscale neighborhood of Nassim Park are getting closer to $5,000 per square foot. A 4,284-square-foot apartment that sold for $20.5 million in February set the current high price per square foot at $4,785 dollars. The sale of a 4,822-square-foot apartment, which sold for $22 million ($4,562 per square foot) in February, comes right after it.
Only recently have resale condos at Nassim Park Residences surpassed the $4,000 per square foot mark. The first instance occurred in June 2022, when a 3,175-square-foot unit sold for $12.88 million, or $4,059 per square foot.

2011 saw the completion of Nassim Park Residences, a freehold luxury condominium. This 100-unit condominium with four bedrooms and penthouses ranging in size from 3,175 to 8,073 is situated along Nassim Road.

Nyon 12 Amber Showflat is open for online booking. You can now register online to receive direct developer discount offers and prices.

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