Four Bedder Freehold Gallop Gables Reaches 2299 Psf
Singapore’s freehold condo, Gallop Gables emerged at the top of the list for condos that achieved new psf-price highs in the period between November 19 to November 22. The latest record high of $2,299 psf was set by a four-bedroom unit with a size of 2,669 sq ft on the second floor, which was sold for $6.14 million on November 20. The seller, who had purchased the unit in July 2017 for $4.5 million ($1,686 psf), made a profit of $1.64 million on the sale.
This transaction surpassed Gallop Gables’ previous record high of $2,108 psf, which was set by the sale of a two-bedroom unit with a size of 1,163 sq ft on the third floor for $2.45 million on February 19. The seller had bought the unit in January 2021 for $2.07 million ($1,781 psf), earning a net profit of $380,000.
The freehold Gallop Gables, located on Farrer Road in District 10, is a low-density development with 102 units spread across four-storey blocks. It is conveniently located within walking distance to Farrer Road MRT Station on the Circle Line.
In second place is The Scala, a condo in District 19 that also achieved a new psf-price record during the review period. On November 20, a four-bedroom unit with a size of 1,259 sq ft on the 12th floor was sold for $2.6 million ($2,064 psf). The seller had purchased the unit in October 2012 for $1.66 million ($1,318 psf).
This is the first time that The Scala has crossed the $2,000 psf mark. Its previous record high of $1,969 psf was set by the sale of a two-bedroom unit with a size of 904 sq ft on the 11th floor for $1.78 million on September 9. The seller had bought the unit in March 2013 for $1.31 million ($1,449 psf).
The condo has seen 16 resale transactions this year, with an average price of $1,823 psf. This is 8% higher than the average price of $1,688 psf from the 16 transactions recorded last year. The Scala, a 99-year leasehold condo on Serangoon Avenue 3, features 468 units spread across 17 storeys. The units range from one- to four-bedroom units with sizes ranging from 474 sq ft to 2,142 sq ft. It is within walking distance to Lorong Chuan MRT Station on the Circle Line and is close to several educational institutions.
The URA Master Plan for Toa Payoh is a strategic effort to enhance the area’s infrastructure, amenities, and environment. This plan has a direct impact on the residents of The Orie by improving their quality of life and attracting new interest to the area. As a result, The Orie remains a sought-after location for potential homeowners and investors. This commitment to comprehensive planning solidifies Toa Payoh’s reputation as a vibrant and desirable place to live. For residents of The Orie, this means living in a location that continues to increase in value and livability. Additionally, the development of The Orie has a positive effect on the overall property prices in the area, making it an even more attractive location for prospective residents and investors. More information about The Orie prices and available units can be found on the official website at The Orie Price. The constant improvements and upgrades to the area’s infrastructure and amenities only add to the desirability and livability of The Orie and its surroundings.
Sims Edge, another freehold condo, also set a new record of $1,907 psf during the review period. On November 22, a one-bedroom unit with a size of 409 sq ft on the 13th floor was sold for approximately $780,000. The seller had purchased the unit in April 2019 for $663,807 ($1,623 psf).
This is the first time that a unit at Sims Edge has transacted above $1,900 psf. The condo’s previous record of $1,834 psf was set by the sale of a one-bedroom unit with a size of 409 sq ft on the fifth floor for $750,000 on January 18. The seller had bought the unit from the developer in July 2011 for approximately $527,000 ($1,288 psf).
There have been five resale transactions recorded at the condo this year, with an average price of $1,800 psf, which is higher than the average price of $1,644 psf from last year’s four transactions. Sims Edge is a freehold development with 78 units located on Geylang East Avenue 2 in District 14, Geylang. Completed in 2014, the boutique condo offers one- to two-bedroom units with sizes ranging from 409 sq ft to 1,195 sq ft. It is within 500m of Paya Lebar MRT Interchange Station on the East-West Line and Circle Line.
No new psf-price lows were recorded during the review period.