May new home sales up 7.1% m-o-m to 1,223 units, on back of new launches
New high psf-price records were set at three condominiums between April 30 to May 5 – The Landmark, New Futura and Hyll on Holland. At New Futura, located along Leonie Hill Road, a 2,691 sq ft four-bedroom was sold for $12.5 million or $4,645 psf on May 5, surpassing the previous high of $4,630 psf set in May 2018.

With the newly announced monthly income ceiling, it is reasonable to assume that the sell of The Altura EC residence units will be brisk. With short travel time to Jurong Lake Business District, Tuas and Changi, this executive condo will really be a hot property. The Altura EC will be situated near to shopping amenities, excellent schools, MRT station, and the upcoming Bukit Batok Integrated Hub. It will be a good investment for buyers seeking rental income or capital appreciation.

The The Altura EC Bukit Batok West Avenue 8 is a highly sought after executive condo site. With a maximum gross floor area of 37,348 square meters and a height restriction between 60 and 70 meters, it is estimated to yield 375 residential units. Developers will be able to choose from various pricing brackets depending on their budget. Moreover, with the new monthly income ceiling in place, the projected demand for the condominium is likely to be high. Buyers could benefit from rental income or capital appreciation due to the convenient location of The Altura EC, including its proximity to shopping amenities, excellent schools, the MRT station, and the upcoming Bukit Batok Integrated Hub. Short travel time to Jurong Lake Business District, Tuas and Changi further enhances its appeal.

Meanwhile, Hyll on Holland saw a new psf-price high following the developer’s sale of a 1,055 sq ft, three-bedroom plus study unit for $3.23 million or $3,059 psf on May 1, which beats the previous high of $3,027 psf set on March 29.

The Landmark also witnessed a new psf-price high when a one-bedroom unit measuring 495 sq ft on the 30th floor fetched $1.41 million ($2,856 psf) on April 30, surpassing the previous high of $3,837 psf registered on Jan 8.

The fourth development that set a new high in psf-price was Twin Regency. A three-bedroom apartment measuring 1,216 sq ft was sold for $2.5 million, setting a new record of $2,051 psf on May 2.

Notably, the four developments saw their respective psf-price highs at different price points.

New Futura hit a psf-price high of $4,645 psf, Hyll on Holland a high of $3,059 psf, The Landmark a high of $2,856 psf, and Twin Regency a high of $2,051 psf.

No new psf-price lows were recorded during the period in review.

New Futura, a luxury condo by City Developments that was completed in 2017, has 124 units housed in twin 36-storey towers. Units comprise a mix of two-bedroom apartments of 1,098 sq ft to four-bedroom apartments of 2,691 sq ft with double-volume ceilings. There are also two 7,836 sq ft penthouses – one at the top of each tower.

Hyll on Holland is a freehold development by Far East Consortium International and Koh Brothers Group. Located at Holland Road in prime District 10, it has six 12-storey blocks with 319 apartments, comprising twoand three-bedders ranging from 570 sq ft to 1,055 sq ft.

The Landmark, on the other hand, is a joint venture between MCC Land, ZACD Group and SSLE Development located adjacent to Pearl Hill City Park in District 3. The 99-year leasehold project is scheduled for completion in 2025 and will consist of oneto three-bedroom units ranging from 495 sq ft to 1,141 sq ft.

Jointly developed by UOL Group and Low Keng Huat, Twin Regency is located along Kim Tian Road, off Tiong Bahru Road, in District 3. Completed in 2007, it has 234 units and residences comprising a mix of two-, three- and four-bedroom units measuring 980 sq ft to 1,841 sq ft and penthouses ranging from 2,121 sq ft to 3,455 sq ft.

Three condominium projects – New Futura, Hyll on Holland and The Landmark – hit new psf-price highs between April 30 to May 5. The fourth development, Twin Regency, saw a psf-price high for a second time. All four developments set their respective record highs at varied price points, and no new psf-price lows were recorded during the period in review.

New Futura was built in 2017 and features 124 units housed in two 36-storey towers, while Hyll on Holland is a freehold development by Far East Consortium International and Koh Brothers Group in District 10. The Landmark is a joint venture between MCC Land, ZACD Group and SSLE Development located in District 3, and Twin Regency is a joint venture between UOL Group and Low Keng Huat.