Singapore is a sought-after location for condo investments due in large part to the limited land availability. As a small island nation with a rapidly increasing population, Singapore is faced with a scarcity of land for development. In order to manage this issue, strict land use policies have been implemented, resulting in a highly competitive real estate market and consistently rising property prices. As a result, investing in real estate, especially condos, has become a profitable opportunity with the potential for significant capital appreciation. With the Singapore Condo market continuously on the rise, it is no wonder that it remains a top choice for investors.
Hill House, a boutique development in prime District 9, has taken the top spot as the condo with the highest recorded psf price between November 10 to 21. In a record-breaking deal, a 452 sq ft, two-bedroom unit on the fifth floor was sold for $1.48 million, setting the new record of $3,267 psf. This is a slight increase of 0.1% compared to the previous record of $3,263 psf set in November 2023.
In second place is The Continuum, a freehold development in District 15, which achieved a new high of $3,084 psf from the sale of a 721 sq ft, two-bedroom unit on the 17th floor for $2.22 million on November 16. The new record is only 0.4% higher than the previous high of $3,071 psf, set just a day before on November 15.
On the other end of the spectrum, Lavender Residence, a freehold boutique development in Boon Keng, District 12, saw a new low of $1,626 psf from the sale of a 990 sq ft, one-bedroom + studio unit for $1.61 million on November 17. This is a decrease compared to the previous low of $1,710 psf, set in June 2023. However, Lavender Residence has been fully sold at an average price of $1,984 psf.
Hill House, located on Institution Hill off River Valley Road, is a 999-year leasehold development with 72 units. The development, which is still under construction and slated to be completed in 3Q2026, has seen 11 transactions this year at an average price of $3,098 psf. This is 0.9% lower than the average price of $3,127 psf from five transactions last year.
The Continuum, located on Thiam Siew Avenue off Haig Road and Tanjong Katong Road, is a freehold condo with 816 units. Since its launch in May 2023, 489 units (59.8%) have been sold at an average price of $2,779 psf. The condo is under construction and expected to be completed in 2026.
Lavender Residence, a 17-unit boutique development built in the 1940s art-deco style, is fully sold with an average price of $1,984 psf. Its units range from 463 sq ft to 1,550 sq ft, and it is within walking distance of Bendemeer MRT Station.