This is the third most expensive condo unit sold in Singapore since 1995

It was a 548 sqm unit at Park Nova sold for S$34.4m in May 2021.

The priciest apartment sold in Singapore last month was a 548 sqm 20th floor apartment at Park Nova transacted for S$34.4 million or S$5,838 psf, reveals OrangeTee Research. This is the third priciest new condominium purchase based on URA caveat records from 1995. 

The priciest unit was a 1,261 sqm Le Nouvel Ardmore sold for S$51 million in 2015 and a 717 sqm Twentyone Angullia Park condominium transacted for S$42.9 million in 2013. The Park Nova apartment is also the third highest price by per sq foot basis for a new condominium (S$5,838 psf), ranked behind two units at The Marq on Paterson Hill sold for S$6,650 psf and S$6,215 psf in 2011. 

According to data released by the Urban Redevelopment Authority, new home sales dropped 29.7% from 1,268 units in April to 891 units in May as restrictions were tightened in the country. 

OrangeTee says new home sales may pick up again when movement restrictions are further eased since the number of community cases has continued to stabilise. With many HDB owners selling their flats in recent months, upgraded demand may also be expected to remain strong.


Join Realestate Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

New home sales dropped 31.4% during the month.
This is due to elevated supply levels and uncertain demand from the Mainland.
The growth will be more prominent in Japan, Australia, and Hong Kong.
There were 17 major deals worth over US$12.8m each.
Private equity investors’ interest in offices will drive investment demand.
Savills expects rents of outlying business parks to bottom out soon.
Data centres accounted for 34% of all investments during the quarter.
Luxury brands are still wary of going to the high streets.
Q3 Grade A office rents increased 0.7% for the first time in five quarters.
Average multifamily asking rents dropped 3.6% over the year. 
Rents declined in all major submarkets while Kowloon rents proved more resilient.
Sales were propelled by the residential sector.
22% of all residential launches in H1 2021 were from the affordable segment.
But Colliers says transactions may pick up in Q4.