The Wharf Residence Condo achieves new record of $2421 psf

The Wharf Residence, a 999 years leasehold condominium, topped the list of condos with a new high psf between Sept 12-19. The condo sold a 1,066 square feet, two bedroom unit for $2.58 mil, or $2.421 per sqft. Owner of the condo bought it on May 10th, 2018 for $2.4 million (2,252 psf), resulting in a $180,000 profit.

The Wharf Residence was developed by Leonie Court (a subsidiary wholly owned by CapitaLand) and consists of four blocks of 10 to 23 stories located along Tong Watt Road at River Valley, District 9. It was completed by 2012 and has 186 units.

This is the third sale at the property in the past year. In April, the first transaction was a two-bedroom apartment of 1,033 sq. ft. sold for $2.46m ($2,381psf).

The second transaction was a 1,066 sq. ft. two-bedder that sold in May for $2.33 ($2,186/sq. ft).

EdgeProp’s Landlens shows that the property is close to River Valley Primary school.

The freehold condo Robertson100 also reached a new price high of $2,304/psf during the period under review. This is after the sale of a two-bedroom, 872 sq. ft. unit on September 18 for $2.088,888.

The unit had been purchased in May 2019 for approximately $1.59m or $1.827 per sq ft, which is $415,888 for the seller.

Robertson 100 is a building that was completed in 2004. It houses 186 homes. MCL Land is a 100%-owned subsidiary Hongkong Land Holdings (a member company of Jardine-Matheson Group), which developed the project.

The previous record was $2.251 per square foot, achieved in April when a 1,044-square-foot three-bedder sold for $2.35 million or $2.251 per square foot.

Find out more about the location of our Blossoms Showflat.

River Valley is within District 9 and located along Robertson Quay. Great World MRT Station, Havelock MRT Stations and the district 9 District are all within walking distance.

Sturdee Residences in the 99-year leasehold condo saw a record price of $2,192 per sq ft. The sale of a one-bedroom, 420 square foot unit for $920,000 was made on September 14. This is the very first time this unit is being resold. In June 2016, the owner paid $747,00 for the unit.

This means the owner made $173,000 in profit. The condo has sold 17 units this year. The average psf of all the condos sold this year comes out to $1,951psf based on the caveats that were lodged.

Sturdee Residences, located in Kallang’s District 8, is comprised of two 30-storey residential towers. The total number of condos are 305. There are a variety of units ranging from one to five bedrooms, with a size between 420 and 1,830 sq. ft.

The property has been developed by SL Capital – a local property development firm. Bendemeer MRT Stations and Farrer Park MRT Stations are within walking range.

Prices started at $680,000 for the 420 sq ft one-bedroom unit, and went up to $3.2million for a penthouse with 1,830 sq. ft. The high take-up can be attributed its strategic city-fringe position and proximity to two MRT station.

The project was sold out by August 2018 – a whole year before the completion date. During its VIP Preview Launch in 2016, the condo was able to sell 40% of its units or 122 at an average price per square foot of $1,550.

Sturdee Residences rents its units on average between $2.50 psf and $9.5 psf a month. This equates to a rental yield of 4.1% on average for landlords.

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