$2,494 is a new psf price low for The Atelier

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Altura condominium

The purchase of a 1,281 square foot three-bedroom apartment located at the Atelier in the Atelier for $3.2 million, which is $2,494 per square foot, on March 5, set the new record of the psf price that was set for the development. The transaction was based on the transactions between February 24 and 3 March.

Altura condominium is situated at the heart of Bukit Batok Town and sits on a 12,4449.3 sq m site with a maximum Gross Floor Area (GFA) of 37,348 sq m.

The previous record low price for psf in The Atelier was for another 1,281 sq ft of space which was bought through The developer to the developer for $3.22 million ($2,512 per square foot) on March 1.

The Atelier is a planned 120-unit freehold project on Makeway Avenue in the Newton areain the District 9. It is located near another planned project that is 378 units Kopar located in Newton situated located on Makeway Avenue, which is an 99-year leasehold development.

The developments are located near the Newton MRT Interchange Station on the North-South and Downtown Lines. They are linked to major roads like Bukit Timah Road Dunearn Road, Scotts Road and Newton Road. Additionally, the Novena And Orchard Road areas are also close by.

The Atelier was made available for sale on March 20, 2021. The condo is 22 stories high and comprises an assortment of one-to four-bedroom units which range from 549 sq ft to 1,496 square feet.

Based on developer sales statistics, The Atelier has moved approximately 37 units in the last three months that is an occupancy rate of around 31%. The property that was able to achieve the highest price per square foot was an 883 square foot 2-bedroom apartment on the 20th floor . The unit was sold for $3,040 per square foot which is $2.68 million in March of last year.

A table of sales data done by EdgeProp Singapore shows that The Atelier has an average cost of $2,693 per square foot.

On the other hand the purchase of a 4,284 sq . ft 4-bedroom unit in Nassim Park Residences for $20.5 million which is $4,785 per sq ft, on Feb . 27 was the highest price for psf in the development to date and for condo sales from February 24 through March 3.

The previous record for psf in Nassim Park Residences was for 3,466 sq feet of four-bedroom apartment that was sold through Nassim Park Residences developer to the developer for $14.28 million ($4,120 per square foot) in July of 2010.

Nassim Park Residences comprises a 100-unit freehold condominium located situated on Nassim Road. The development was created jointly between UOL Group, Kheng Leong Co and Orix Capital, and completed in the year 2011.

The development that set the second-highest record for psf prices in the last week is the D’Grove Villas which is a freehold condo located on Orange Grove Road in prime District 10. A 1,690 sq feet two-bedroom apartment sold to the buyer for $4.3 million ($2,544 per square foot) in March. This is a leap over the previous high of psf for the condo, which was that was set by the sale of an 2,443 sq ft four-bedroom home for $5.33 million ($2,181 per square foot) in May of 2011.

The D’Grove Villas is a luxury 45-unit condominium that was built in 1992. The condominium is located near and within the Ardmore Park residential area, one of the most sought-after residential neighborhoods in Singapore.

Luxury condominiums in the area comprise Le Nouvel Ardmore, Ardmore Residence, Ardmore Park, Sculptura Ardmore and Treetops Executive Residences. D’Grove Villas is also close to Shangri-La Singapore on Orange Grove Road.

Being one of the more advanced developments in the region D’Grove Villas has experienced an impressive capital gain. Analyzing resales transactions in the condominium by EdgeProp Singapore shows that prices for the condominium have increased from $1,319 per square foot in March 2003, to $1,731 per sq ft in March 2013 and then to around $2,500 psf in March.

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