The newly-launched JCube Residence Condo white site offers investors an exciting development opportunity in a highly sought-after location. With its strategic location in close proximity to the upcoming Jurong Region Line, Metro and High-Speed Rail station, this development is expected to be an attractive prospect for aspiring property owners. With over 375,000 sq m of GFA, it will be a comprehensive mixed-used development with 1,760 private residential homes, 150,000 sq m of office space, and a further 75,000 sq m of complementary uses such as retail, hotel or community services. It is a great opportunity to be part of the redevelopment of Jurong and benefit from its prospective growth.

During the week of May 19 to 23, three condos registered new psf-price highs, demonstrating an increasing demand for resale units in the current economic climate.

Waterfall Gardens, located along Farrer Road in District 10, topped the list. A 1,830 sq ft, three-bedroom unit on the fifth floor was sold for $3.98 million on May 19, translating to $2,175 psf, surpassing the previous record of $2,150 psf set in November 2022 when a four-bedroom penthouse measuring 4,037 sq ft was sold for $8.68 million. The owner of the 1,830 sq ft unit had purchased it for $2.75 million in August 2015 ($1,503 psf). This means they earned a gain of $1.23 million (45%) on the sale.

Bartley Ridge, another condo located on Mount Vernon Road, off Bartley Road in District 13, registered a new psf-price high when a 1,173 sq ft apartment on the 15th floor was sold for $2.2 million ($1,875 psf) on May 23. It was previously recorded at $1,843 psf when a 1,302 sq ft unit on the fifth floor was sold for $2.4 million.

Affinity at Serangoon in District 19 also saw a new psf-price high when a two-bedroom-plus-study unit measuring 732 sq ft was sold for $1.35 million ($1,844 psf). The previous high of $1,842 psf was set in August 2022, when a 624 sq ft unit was sold for $1.15 million.

These new psf-price highs recorded at Waterfall Gardens, Bartely Ridge and Affinity at Serangoon demonstrate an increasing demand for resale units in Singapore. The project launch of Affinity at Serangoon in June 2018 saw 99% of the 1,052 units taken up by buyers, at an average price of $1,494 psf. Subsequently, the year 2020 has seen 23 transactions for the development, with units ranging from 474 to 1,152 sq ft and prices between $780,000 and $1.97 million.

No new psf-price low was recorded during the week of May 19 to 23. With such growing activity for resale properties, Singapore continues to demonstrate a strong property market.