The Scala has set a new high of $1,816 per square foot

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In the number of condos which saw the highest price for psf in the period of Sept. 10-12, The Scala, a 99-year leasehold condominium located on Serangoon Avenue 3, topped the list. The condominium saw a new PSF-price record of $1,816 following it was sold for 474 square feet, one-bedroom unit at $860,000 on the 12th of September. The owner of the property was the one who bought the property in January 2016 for $715,000 ($1,510 per sq ft) and earned a profit of 145,000 from the sale.

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The sale marks the first time that a condominium in The Scala has transacted above the $1,800 threshold for psf. It is higher than the previous record price for psf-price of the condo that was recorded on June 30, after the two-bedroom unit that measured 829 square feet bought at $1.5 million or $1,789 psf.

It was created by a consortium comprising Hong Leong Holdings, TID and Hong Realty, The Scala is a condominium with 17 floors situated within The Serangoon Gardens area. It was completed in 2013. The condominium is comprised of 468 units. They include one- to four-bedders ranging between 474 and 2,142 sq feet.

Condos with freehold Cosmo also reached the new high of psf during the review period at $1,808. This is due to the purchase of a 398 sq ft, one bedroom apartment at $720,000 on the 11th of September which equates to $1,808 per square foot. This is higher than prior records by $1.695 psf which was set in May 2012, when an apartment of 398 square feet was purchased for $675,000. It’s the first time that a space at Cosmo has traded above $1,800 per square foot.

The unit that was sold on Sept 11 is the first property at Cosmo that changed hands within the space of a year. Prior to that the most recent resales was in August 2022 in which a 667 sq ft unit was sold for $1.06 million ($1,588 per square foot).

Cosmo is a condominium that is owned by Fission Group, the developer behind the other apartments such as two-story Alexis located at Alexandra Road and the 167-unit Robinson Suites located on Robinson Road. Cosmo is completed the year 2010 and comprises 45 units that comprise one- and two-bedders ranging from 398 and 1,238 square feet. Cosmo is located along Guillemard Crescent, off Guillemard Road in District 14. It is located within walking distance to The Mountbatten MRT Station.

Bukit Regency also set the record price for psf. It was the result of a deal on September 12 in which a three-bedroom home that was 1,399 square feet purchased for $2.3 million which is $1,669 per square foot. The previous record for the highest price of psf for Bukit Regency Bukit Regency was set by selling a 947 square feet, two-bedroom property at $1.6 million ($1,657 per sq ft) on June 7.

The owner of the unit that was sold on September 12 had bought it at the beginning of January in 1999, for $760,000 ($543 per sq. ft.). The result was an increase of $1.575 million from the sale, which makes one of the best-performing transaction to the present at Bukit Regency Based on the data collected from EdgeProp Research.

It is located along Upper Bukit Timah View in District 21. Bukit Regency, a condo with freehold developed by Allgreen Properties that was completed in 1995. It is comprised of six blocks that house an enumeration of 224 units. The units range from two to four-bedders ranging from 926 and 1,701 square feet.

In addition to the two units that were sold on the 12th of September and June 7 Bukit Regency has only seen two other resales in the past year. On May 17 the 936 sq ft apartment was sold for $1.5 million ($1,602 per square foot). Another sale took place on January 18, 1399 sq feet of apartment for $2.17 million, which is $1,547 per sq ft.

There were no new lows for the psf observed during the time of the review.