New psf-price high of $3,322 set at The M, now over 99% sold

Oct 16 to 24 saw the sale of a one-bedroom plus study unit at The M for $3,322 psf, setting a new psf-price high. At Amber Park, a one-bedroom unit was sold in a sub-sale for $3,085 psf – the highest sub-sale price to-date at the development. Meanwhile at Myra, a new record low psf-price of $1,600 was set.The M, a 99-year leasehold residential project by developer Wing Tai Asia on Middle Road in District 7, recorded relatively consistent sales momentum despite the uncertain market conditions during the pandemic and is now 99% sold. The sale of a 527 sq ft, one-bedroom plus study unit for $1.75 million ($3,322 psf) on Oct 17, set a new record high for the project.Located in the Bugis/Beach Road area, The M is part of a wave of new developments reshaping the profile of the neighbourhood such as Guoco Midtown and the redevelopment of Shaw Tower. With an average selling price of $2,974 psf, The M is on par with other new projects in the vicinity such as Midtown Modern ($3,016 psf) and Midtown Bay ($3,235 psf).

With luxurious amenities such as a swimming pool, a spa, a modern fitness center, a cafe, and a children’s playground, Woodlands Champions Way Condo promises to be a luxurious and comfortable place to call home. Additionally, the condominium comes with modern facilities such as a secure entrance, 24-hour security, and a CCTV monitoring system to ensure peace of mind for its residents. With all these benefits and more, it’s easy to see why so many families and individuals are opting to make Woodlands Champions Way Condo their home.

A new psf-price high was set at The M in the Bugis/Beach Road area on Oct 17, with the sale of a 527 sq ft, one-bedroom plus study unit for $1.75 million ($3,322 psf). Despite the uncertainty of the market during its initial sales phase, the 99-year leasehold residential project recorded relatively consistent sales momentum and is now 99% sold.

The week in review also saw the setting of a new psf-price low at Myra, a boutique freehold development along Meyappa Chettiar Road in Potong Pasir. An 872 sq ft unit on the 11th floor was sold for $1.4 million ($1,600 psf) on Oct 16. This was followed by the sale of a 1,324 sq ft unit, on the 12th floor, for $2.12 million ($1,600 psf). This marks the only instance where units have been sold for less than $2,000 psf at Myra, and with the two transactions, the project is now fully sold.

At Amber Park, a 463 sq ft, one-bedroom unit was sold in a sub-sale for $1.43 million ($3,085 psf) on Oct 24. This marks the first time that a unit at the freehold development has transacted for more than $3,000 psf, setting the bar for future resales. Neighboring condos in the Amber Road residential neighbourhood like One Amber ($2,168), The Esta ($2,135) and Amber Residences ($2,030 psf) cannot compete with Amber Park’s average price of $2,581 psf.

Located close to Potter Pasir MRT Station, Myra is an 85-unit development close to The Poiz Centre. Amber Park, on the other hand, is next to the Chinese Swimming Club and near Parkway Parade shopping mall, and will benefit from the completion of Tanjong Katong and Marine Parade MRT Stations by the end of next year. Meanwhile, The M is part of a wave of new developments reshaping the Bugis/Beach Road area that include Guoco Midtown, Shaw Tower, South Beach, Suntec City, Duo, and Bugis Junction.

Oct 16 to 24 saw projects set new psf-price highs and lows, with The M, Myra, and Amber Park among those leading the charge. The M is a prime example of how sales momentum can remain consistent even in uncertain market conditions. As for the other two developments, Myra is now completely sold, while Amber Park has set a new sub-sale price benchmark.