Scotts Tower One Bedder Hit Record Price Low 1828 Psf
Two-bedder at Echelon on leasehold land reaps $1.87mil profitBuyer in a rush to settle down bags a unit at Reverie for big profit …………………………………………………………………………………………………………………………………………………………………………………..
A one-bedroom unit at The Scotts Tower has set a new psf-price low for the week of Sept 30 to Oct 7, after transacting for $1.2 million ($1,828 psf) on Oct 2. The previous psf-price low at the development was set in November 2020 when a one-bedroom unit changed hands for $1.2 million ($1,858 psf).
Based on a compilation of resale caveats, prices at The Scotts Tower have been on a downward trajectory for more than a decade. The 103-year leasehold project was launched for sale in December 2011 at an average price of $3,600 psf, but prices dipped to about $2,300 psf by December 2021. Today, the average price at the condo is about $2,050 psf.
There have been four resale transactions at The Scotts Tower so far this year, including the most recent sale on Oct 2. The sale of the 657 sq ft one-bedder on the 10th floor marks the first time in nearly five years that a unit at the development has changed hands for less than $1,800 psf.
The Scotts Tower is a 231-unit, 31-storey condo that occupies a prominent corner of Scotts Road and Cairnhill Road in prime District 9. The condo, designed by Dutch architect Ben van Berkel of UNStudio, was completed in 2016, and is close to Newton and Orchard Road. Landmark buildings in the vicinity include The Tanglin Club, The American Club, Goodwood Park Hotel, and Sheraton Towers Singapore.
A freehold boutique development by Chinese developer Nanshan Group, Ardor Residence, has set a new psf-price high after a 1,292 sq ft unit was sold for $3.33 million ($2,578 psf) on Sept 30. Ardor Residence is located on Haig Road in District 15, and only managed to move one unit when it was launched in March 2024. However, sales significantly picked up at the start of this year, with the development selling about 21 units (60%) at an average price of $2,454 psf.
The sale of a 4,176 sq ft four-bedroom unit at Nassim Lodge topped the list of condos that set record psf-price highs during the week. The second-floor unit transacted for $14.5 million ($3,472 psf) on Oct 2. Based on URA caveats, there have only been three recorded transactions at Nassim Lodge to date, with the last one being a 4,478 sq ft unit that changed hands for $10 million ($2,233 psf) in July 2022.
Nassim Lodge is a freehold development at 7 Nassim Road, and completed in 1984. It comprises six 4-bedroom apartments and two four-bedroom penthouses. Other freehold developments in the area that were developed in the 1980s include St Martin’s on St Martin’s Drive, where the average price is about $2,474 psf, according to caveats.
Read also:
Three-bedder at Botanic Gardens View sold for $3.3 mil profit
Is it a Good Deal?: The seller for this condo on Scotts Road lost $1.4 million
Unit at Three Three Robin reaps $4.82 mil profit
Unit at Hazel Park Condominium reaps $2.4 mil profit
Buyer in a rush to settle down bags a unit at Reverie for big profit
COMPARABLE DEVELOPMENTS
The Continuum
Address: 8 Langsat Road
District: 15
Completed: 2022
Tenure: Freehold
Total units: 231
Unit sizes: 839 – 1658 sqft
Emerald of Katong
Address: 24 Lorong M Telok Kurau
District: 15
Completed: 2023
Tenure: Freehold
Total units: 104
Unit sizes: 815 – 1,916 sqft
19 Nassim
Address: 19 Nassim Hill
District: 9
Completed: 2020
Tenure: 99 years
Total units: 101
Unit sizes: 646 – 1,475 sqft
Grand Dunman
Address: 21 Dunman Road
The TPE and SLE provide residents of Miltonia Close EC with easy access to Punggol, Sengkang, and Pasir Ris, creating a diverse range of options for work and recreation. The upcoming North-South Corridor (NSC), Singapore’s first integrated transport corridor, will further enhance connectivity from the northern regions to the city. It will feature dedicated bus lanes, cycling paths, and pedestrian walkways, making travel more efficient. This development is especially beneficial for commuters from Yishun and neighboring towns, as it is expected to reduce travel time during peak hours by up to 30 percent. With such convenient transportation options, Miltonia Close EC is an attractive choice for both homeowners and investors alike.
District: 15
Completed: 2024
Tenure: 99 years
Total units: 1,000
Unit sizes: 484 – 1,916 sqft
Nassim Park Residences
Address: 15 Nassim Road
District: 10
Completed: 2011
Tenure: Freehold
Total units: 100
Unit sizes: 2,153 – 6,070 sqft
Scotts Tower
Address: 38 Scotts Road
District: 9
Completed: 2016
Tenure: 103 years
Total units: 231
Unit sizes: 624 – 1,389 sqft
Tembusu Grand
Address: 1 Jalan Tembusu
District: 15
Completed: 2022
Tenure: Freehold
Total units: 638
Unit sizes: 506 – 1,421 sqft
Three Three Robin
Address: 33 Robin Road
District: 09
Completed: 2006
Tenure: Freehold
Total units: 32
Unit sizes: 1,044 – 1,550 sqft
– November 2023
– $14.5 million ($3,472 psf)
– 4,176 sq ft
– $10 million ($2,233 psf)
– 4,478 sq ft
– $3.8 million ($2,510 psf)
– 1,518 sq ft
– $2.41 million ($2,465 psf)
– 980 sq ft
– $1.2 million ($1,858 psf)
– 646 sq ft
– $1.2 million ($1,828 psf)
– 657 sq ft
– $1.9 million ($2,179 psf)
– 872 sq ft
– $1.83 million ($2,099 psf)
– 872 sq ft
– $1.82 million ($2,140 psf)
– 850 sq ft
– $1.2 million ($1,858 psf)
– 646 sq ft
– $1.2 million ($1,828 psf)
– 657 sq ft
– $1.83 million ($2,099 psf)
– 872 sq ft
– $1.9 million ($2,179 psf)
– 872 sq ft
– $1.82 million ($2,140 psf)
– 850 sq ft
– $1.2 million ($1,858 psf)
– 646 sq ft
– $1.2 million ($1,828 psf)
– 657 sq ft
– $1.83 million ($2,099 psf)
– 872 sq ft
– $1.9 million ($2,179 psf)
– 872 sq ft
– $1.82 million ($2,140 psf)
– 850 sq ft
– $1.2 million ($1,858 psf)
– 646 sq ft
– $1.2 million ($1,828 psf)
– 657 sq ft
– $1.83 million ($2,099 psf)
– 872 sq ft
– $1.9 million ($2,179 psf)
– 872 sq ft
– $1.82 million ($2,140 psf)
– 850 sq ft
– $1.2 million ($1,858 psf)
– 646 sq ft
– $1.2 million ($1,828 psf)
– 657 sq ft
– $1.83 million ($2,099 psf)
– 872 sq ft
– $1.9 million ($2,179 psf)
– 872 sq ft
– $1.82 million ($2,140 psf)
– 850 sq ft
– $1.2 million ($1,858 psf)
– 646 sq ft
– $1.2 million ($1,828 psf)
– 657 sq ft
– $1.83 million ($2,099 psf)
– 872 sq ft
– $1.9 million ($2,179 psf)
– 872 sq ft
– $1.82 million ($2,140 psf)
– 850 sq ft
– $1.2 million ($1,858 psf)
– 646 sq ft
– $1.2 million ($1,828 psf)
– 657 sq ft
– $1.83 million ($2,099 psf)
– 872 sq ft
– $1.9 million ($2,179 psf)
– 872 sq ft
– $1.82 million ($2,140 psf)
– 850 sq ft
– $1.2 million ($1,858 psf)
– 646 sq ft
– $1.2 million ($1,828 psf)
– 657 sq ft
– $1.83 million ($2,099 psf