Resale at The Edge on Cairnhill sets psf-price high of $2,348
The recent sale of a four-bedroom unit at The Edge on Cairnhill recorded the highest psf-price during the week of Feb 18 to 24 and topped a previous record price set in September 2022. Meanwhile, a three-bedroom unit at Newton 18 was the next highest priced transaction, followed by a one-bedroom unit at Petit Jervois which marks the lowest psf-price for the week.Petit Jervois is a luxury boutique project on Jervois Road in District 10 and has sold about 26 units (47%) to date. The most expensive unit so far sold by the developer is a 1,012 sq ft unit for $2.88 million or $2,852 psf.At The Edge on Cairnhill, the average price is currently about $2,025 psf, having seen a positive trend since 2013, when it was around $1,827 psf. Meanwhile, the average price at Newton 18 is $2,051 psf, and this is in-line with other freehold condos in the area.The Edge on Cairnhill, located in prime District 9, is a boutique 46-unit property that was completed in 2002. The most recent sale was a 2,142 sq ft unit on the 10th floor which fetched $5.03 million ($2,348 psf) on Feb 21. The development is situated between the Orchard Road and Newton areas and close to a number of landmarks including Goodwood Park Hotel, Grand Hyatt Singapore, Scotts Square, The Paragon shopping mall and Mount Elizabeth Hospital and Medical Centre.A few kilometers away is Newton 18, a freehold condo on Newton Road in District 11. One of the projects notable transactions during the week was a 1,249 sq ft, three-bedroom unit on the 26th floor sold for $2.88 million or $2,307 psf – noticeably higher than the previous record.Notable upmarket condos in the area of Petit Jervois include Principal Garden and The Crest along Prince Charles Crescent and Mon Jervois along Jervois Road.The Edge on Cairnhill boasts the record psf-price for the week of Feb 18 to 24 with the sale of a 2,142 sq ft unit on the 10th floor for $5.03 million ($2,348 psf). Petit Jervois on the other hand, notched a new psf-price low with the sale of a 603 sq ft, one-bedroom unit on the ground floor for $1.54 million ($2,561 psf) on Feb 22.This week’s transactions are indicative of the current prime-district property market trend, with in-demand properties commanding high psf-prices, and record lows being set for well-located projects.
The Edge on Cairnhill, situated in District 9, bested record psf-price highs for condos during the week of Feb 18 to 24 with a sale of a 2,142 sq ft unit on the 10th floor. The unit fetched $5.03 million ($2,348 psf) on Feb 21, marginally higher than the previous record of $2,346 psf set in September 2022 by the sale of another 2,131 sq ft unit on the 10th floor. The Edge on Cairnhill is a freehold 46-unit property that was completed in 2002, boasting a highly desirable location between the Orchard Road and Newton area and close to a number of landmarks.
Meanwhile, a 1,249 sq ft, three-bedroom unit Champions Way Condo at the freehold Newton 18 on Newton Road in prime District 11 was sold for $2.88 million ($2,307 psf) on Feb 23. This transaction is noticeably higher than the record set in December last year for a 570 sq ft, one-bedroom unit on the 13th floor which fetched $2,121 psf. The 81-unit development completed in 2002 is in close proximity to several upcoming projects such as Pullman Residences Newton on Dunearn Road and 35 Gilstead on Gilstead Road.
Petit Jervois marked the lowest psf-price of the week. A 603 sq ft, one-bedroom unit on the ground floor was sold by the developer for $1.54 million ($2,561 psf) on Feb 22. This record for the 55-unit luxury boutique project on Jervois Road in District 10 will likely be challenged when further units are sold, though the most expensive so far has been a 1,012 sq ft unit on the fifth floor for $2.88 million ($2,852 psf).
Generally, The Edge on Cairnhill and Newton 18 are in-line with other freehold condos in their respective areas, based on URA caveats. The Edge has an average psf-price of $2,025 psf as of February 2023, while Newton 18 has an average of $2,051. Other nearby completed freehold condos include Newton 21 ($2,177 psf), L’viv ($2,096 psf), and The Linc ($2,030 psf).
This week’s transactions reflect the current prime-district property market trend, with in-demand properties commanding high psf-prices, and record lows being set for well-located projects. The Edge on Cairnhill recorded the highest psf-price for the week of Feb 18 to 24 and Petit Jervois set the record low.
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