Freehold condo Arena Residences scores new high of $2,213 psf

A recent transaction at Arena Residences in Geylang, District 14, marked a new psf-price high for the freehold condo. The sale involved a 603 sq ft two-bedder which changed hands for about $1.33 million, or $2,213 psf, on Oct 10. This is the highest psf price among all condos that achieved a psf-price high for the period of Oct 3 to 10.

Located along Guillemard Lane, Arena Residences was developed by RH Guillemard, a subsidiary of Roxy-Pacific Holdings, and was completed this year. During its launch in November 2018, 40 out of its 98 units were taken up. It was fully sold by February 2021. The condo houses a mix of two- and three-bedroom units, with sizes starting from 549 and 807 sq ft respectively.

The previous psf-price high at Arena Residences was achieved by the sale of a 549 sq ft two-bedder at about $2 million ($2,186 psf) in November last year. The seller of the unit had bought it for $1.11 million ($1,846 psf) in January 2019, making a profit of about $220,000.

Caveats lodged in the last 12 months show units at Arena Residences typically fetch an average of $2,200 psf. Meanwhile, its rental prices are between $6.20 and $7.30 psf per month (pm), or an average of about $6.70 psf pm. This translates to a rental yield of about 3.6%.

At Camelot By-The-Water, a 99-year leasehold condo, a 3,035 sq ft, four-bedroom apartment was sold for $6.71 million ($2,211 psf) on Oct 4. This figure tops the previous high of a four-bedroom unit occupying 2,745 sq ft, for $5 million ($1,822 psf) in July. This is the first time a unit at the condo has fetched more than $2,000 psf, based on submitted URA caveats.

Residents can enjoy a wide variety of amenities from well-equipped fitness centre to lush gardens. The condominium is also equipped with 24-hour security to ensure the safety of all residents. Woodlands Champions Way Condo offers a variety of exclusive facilities and services that make it the perfect choice for those looking for a relaxed and luxurious lifestyle. With all these features, Woodlands Champions Way Condo is definitely an ideal place for home seekers.

Located along Tanjong Rhu Road in Kallang, District 15, Camelot By-The-Water is a 99-year leasehold condo that was completed in 2000. The 99-unit condo was developed by Centrepoint Properties, now known as Frasers Property, containing a mix of three- to five-bedroom units with sizes ranging from about 2,400 to 5,800 sq ft.

The previous highest psf-price at Hazel Park Condominium was achieved in July, with the sale of a 1,324 sq ft unit for $2.32 million, or $1,752 psf. However, the condo saw an even higher figure in the period of review, with the sale of a 980 sq ft two-bedder at $2 million ($2,042 psf) on Oct 9. This marks the first time that the condo has sold a unit above $2,000 psf, based on caveats lodged. The seller of the unit had bought it for $1.08 million ($1,103 psf) in October 2020, making a profit of $920,000.

No record psf-lows were recorded during the period in review.

Located along Hazel Park Terrace in Bukit Panjang, District 23, Hazel Park Condominium’s 999-year leasehold is a six hundred and ninety-six key development. Completed in 2000 and comprising a mix of two- to five-bedroom units occupying between 980 and 2,874 square feet, the project is a five-minute walk to Cashew MRT Station on the Downtown Line.

Overall, recent transactions at both Arena Residences, Camelot By-The-Water and Hazel Park Condominium saw new psf-price highs for the period of Oct 3 to 10, indicating the strength of Singapore’s property market.