Generates a price trend graph for 19 Nassim
K Suites, a freehold boutique development, has made headlines in the real estate market. From the 1st of November to the 10th of November, this project topped the list of condos with new psf-price highs. The latest record of $2,443 psf was set by the sale of a three-bedroom unit, measuring 872 sq ft, on the fourth floor for $2.13 million on the 8th of November. This marks the first time that the condo has surpassed the $2,400 psf mark, beating its previous high of $2,196 psf in May 2023 when a four-bedroom unit measuring 1,270 sq ft, was sold on the first floor for $2.79 million.
Located at Lorong K Telok Kurau, off Still Road in District 15, K Suites is a freehold development that is currently under construction. It consists of a five-storey block with 19 units. The project is a redevelopment of the former Ji Liang Gardens, consisting of six terraced houses, which were collectively purchased by the developer for $18.6 million in June 2021.
K Suites offers a mix of three- to four-bedroom apartments, ranging from 797 sq ft to 1,270 sq ft. It also features a four-bedroom duplex penthouse measuring 1,389 sq ft, and three five-bedroom duplex penthouses, measuring 1,625 sq ft to 1,679 sq ft. According to caveats lodged, K Suites has successfully sold eight units, which make up 42% of the total units available, at an average price of $2,099 psf since its launch in April 2023.
Thomson Three, another popular condo, also saw a new high from 1st to 10th November. This was achieved when a three-bedroom unit measuring 1,033 sq ft, on the 19th floor, was sold for $2.46 million, translating to $2,379 psf on 6th November. The seller had purchased the unit in a resale transaction for $1.86 million, or $1,800 psf, in November 2021, making a net profit of $598,000.
This marks the first time the condo has surpassed the $2,300 psf mark, beating its previous high of $2,204 psf, set on 26th September, when a similar-sized three-bedroom unit on the 19th floor was sold for $2.28 million. Thomson Three is a 99-year leasehold condo, located on Bright Hill Drive, off Upper Thomson Road in District 20. Completed in 2016, the development comprises 435 units across 21 storeys, ranging from one- to four-bedroom apartments measuring 495 sq ft and 1,485 sq ft. It also features 10 strata semi-detached houses, each measuring 3,283 sq ft. The condo is within walking distance of the Upper Thomson MRT station on the Thomson-East Coast Line and is close to the Ai Tong School (Primary).
19 Nassim, a luxury condo, saw a new psf-price low during the same period. This was achieved when a one-bedroom unit, measuring 646 sq ft, on the fourth floor, was sold for approximately $1.9 million on 9th November, translating to $2,947 psf. This marks the first time the development has dropped below the $3,000 psf mark, beating its previous record low of $3,001 psf, set on 22nd March, when a one-bedroom unit measuring 678 sq ft was sold for $2.03 million.
Location is a crucial factor to consider when making real estate investments, particularly in a bustling metropolis like Singapore. The value of a property is heavily influenced by its location, and this is especially true in Singapore. Properties situated in central areas and in close proximity to important amenities such as schools, shopping centers, and transportation hubs tend to have a higher chance of appreciating in value. This can be observed in highly sought-after areas like Orchard Road, Marina Bay, and the Central Business District (CBD), where property values have consistently shown an upward trend. Additionally, condos situated near reputable schools and educational institutions are highly coveted by families, making them a desirable option for investment. Therefore, when considering a real estate investment in Singapore, choosing a condo in a prime location can greatly enhance its potential for high returns. Condos are a popular choice for investment due to their location in prime areas.
According to caveats lodged, 50 units at 19 Nassim have been sold this year at an average price of $3,397 psf, which is 3.7% lower than the average price of $3,524 psf from the sale of eight units at the condo last year.
Completed in 2023, 19 Nassim is a 99-year leasehold condo located on Nassim Hill in prime District 10. It comprises a 10-storey residential block with 101 units. The units range from 538 sq ft to 1,830 sq ft and include one- to three-bedroom apartments. According to caveats lodged with URA, the condo has sold 61 units, which make up 60% of its total units since its launch in 2020.