Two Bedder Esta Sets New High 2377 Psf

at record price of $7,980 psfBy News Desk – March 8, 2022

The Esta, a freehold development, topped the list of private condos with the highest psf-price achieved from Feb 21 to 28, with a 1,001 sq ft two-bedroom unit selling at $2,377 psf for $2.38 million on Feb 26. This surpassed the project’s previous record of $2,317 psf when a 1,346 sq ft three-bedroom unit sold for around $3.2 million in January last year.

The unit’s sellers had purchased it for about $1.83 million, or $1,833 psf, in March 2021, making a profit of about $545,000. Over the past three years, the average resale price at The Esta has been steadily increasing. In 2022, the project recorded 10 transactions with an average psf-price of $2,012. The following year, the average price climbed to $2,156 across nine resale transactions. Last year, nine units were resold at an average price of $2,248 psf, an 11.7% increase from 2022.

The most expensive unit sold at The Esta was a 3,477 sq ft, five-bedroom apartment on the 21st floor, which sold for $6.25 million, or $1,798 psf, in October 2021.

The second-highest psf-price recorded during the review period was at the 99-year leasehold condo D’Leedon, where a 1,421 sq ft, three-bedroom unit on the 29th floor sold for $3.25 million, or $2,287 psf, on Feb 25. The transaction slightly surpassed the sale of a smaller 1,367 sq ft, three-bedroom unit for $3.04 million, or $2,222 psf, on Feb 26. The record price at D’Leedon was previously set at $2,180 psf when a 2,110 sq ft, four-bedroom unit sold for $4.6 million in October last year. Since the start of this year, 11 units at D’Leedon have been sold at an average price of $2,065 psf.

Rounding out the top three is Citylights, where a 893 sq ft, two-bedroom unit on the 26th floor sold for $1.98 million, or $2,216 psf, on Feb 27. This is a 4.4% increase from the previous peak of $2,122 psf set in December last year when a 872 sq ft unit on the 16th floor sold for $1.85 million. The sellers of the 26th-floor unit purchased it for $1.44 million, or $1,610 psf, in April 2019, making a profit of about $542,000.

The 99-year leasehold Citylights, completed in 2007, offers one- to four-bedroom units from 560 sq ft to 3,875 sq ft. It is just a one-minute walk from Lavender MRT Station and surrounded by dining and retail options.

No new psf-price lows were recorded during the review period.