,Singapore

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.

 

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