Commonwealth Towers Sets New Psf Price Record 2460

Commonwealth Towers, a 99-year leasehold condo, has made headlines by topping the list of private non-landed properties to hit a new psf-price peak in the week of Dec 27 to Jan 3. On Dec 27, a three-bedroom unit on the 40th floor was sold for $2.22 million, setting a new record of $2,460 psf. This surpasses the previous high of $2,402 psf, which was established just three months earlier when a two-bedroom unit on the 42nd floor was sold for $1.65 million. Commonwealth Towers has been steadily increasing its average resale price over the past three years, with an 11.6% increase since 2022. It is a 99-year leasehold project with about 87 years remaining on its tenure, and it consists of two 43-storey residential blocks with 845 condo units. The units are a mix of one- to four-bedroom apartments spanning 441 sq ft to 1,302 sq ft.Next on the list is Parq Bella, a freehold project located on Tembeling Road in District 15. It has 20 apartments ranging from two to four bedrooms, with floor plans spanning 926 sq ft to 1,787 sq ft. The project is expected to be completed by December 2026, and it recorded five new sale transactions last year at an average price of $2,347 psf. Klimt Cairnhill, a 138-unit freehold development, achieved 100% sales at an average price of $3,665 psf, based on caveats lodged. The project was previewed in August 2021 and officially launched in January 2023. It is located along Cairnhill Road in Prime District 9 and has a mix of two- to four-bedroom apartments ranging from 829 sq ft to 2,368 sq ft. There are also two penthouses of 4,898 sq ft and 5,920 sq ft. The development is expected to obtain its Temporary Occupation Permit in April this year. In conclusion, Commonwealth Towers, Parq Bella, and Klimt Cairnhill are all exceptional and lucrative condo projects that have been making waves in the Singapore real estate market.

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The URA Master Plan for Toa Payoh has strategically improved the infrastructure, amenities, and environment of the area, bringing direct benefits to the residents of The Orie. These developments not only enhance the current residents’ quality of life but also attract new interest, making it a highly sought-after location for potential homeowners and investors. This comprehensive planning showcases the commitment to providing a vibrant and desirable living environment in Toa Payoh, securing its reputation as a prime location. With the addition of The Orie CDL, residents can enjoy the continued growth and value of the area, ensuring a valuable and livable location to call home.