Parc Clematis Sets New Price High 2490 Psf

This is the sale, Parc Clematis unit sets new site psf-price record

The sale of a three-bedroom unit at Parc Clematis has made headlines after it topped the list of condos that achieved a new psf-price high between June 6 and June 13. The unit, located on the sixth floor, was sold for $2.6 million on June 9, setting a new psf-price record of $2,490 at the development.

This sale surpassed the previous high of $2,394 psf set earlier this year when a similar three-bedroom unit was transacted for $2.5 million on March 12. The most expensive unit at Parc Clematis is a 2,605 sq ft, five-bedroom penthouse that was sold by developers in September 2022 for $4.18 million ($1,605 psf).

Parc Clematis is a 99-year leasehold mega condo development in Clementi. It has 1,450 units across nine 24-storey tower blocks, ranging from 452 sq ft one-bedroom units to five-bedroom penthouses of up to 2,669 sq ft. The development also offers six two-storey strata bungalows and 12 two-storey, strata terraced homes.

As of June 13, there have been 41 resale transactions at Parc Clematis, with an average price of around $2,132 psf. It is close to renowned schools such as Clementi Primary School, Nan Hua Primary School, and Clementi Town Secondary School.

Another notable sale that resulted in a new psf-price high was at The Cornwall, a freehold condo in prime District 10. A 614 sq ft, one-bedroom unit on the first floor was sold for $1.45 million, setting a new psf-price high of $2,363 for the development. This surpassed the previous record of $2,224 psf set almost three years ago when a 657 sq ft, one-bedroom unit was sold for $1.46 million.

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The Cornwall has 99 units and is built in 2005. Its units range from one- to four-bedroom apartments, from 614 sq ft to 2,551 sq ft.

Another development with a new psf-price high is 1 Moulmein Rise in Novena, where a 1,238 sq ft, three-bedroom unit on the 17th floor was sold for $2.84 million on June 9. This set a new psf-price high of $2,296. The previous record was $2,262 psf, when a similar three-bedroom unit was sold for $2.8 million on Jan 27. The most expensive resale unit at 1 Moulmein Rise to date was a 3,886 sq ft, four-bedroom duplex penthouse that went for $4.8 million ($1,235 psf) in May 2012.

1 Moulmein Rise is a freehold development in prime District 11. Completed in 2003, the development has 50 units in a single 26-storey block. It is within walking distance to Novena MRT Station and lifestyle hubs like Square 2 and Velocity @ Novena Square.

Based on a tabulation of caveats by EdgeProp Singapore, 1 Moulmein Rise commands one of the highest average resale prices among most freehold condos in the area. Its units were transacted at an average price of $2,279 psf in the last 12 months. Comparatively, nearby freehold condos like the 24-unit La Maison, the 49-unit City Edge on Moulmein Rise, and the 37-unit Apleton View on Sinaran Drive have average transacted prices of $2,025 psf, $1,997 psf and $1,834 psf respectively.

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