Arena Residences sets new record at $2,213 per sq.ft.
Arena Residences were completed by Roxy-Pacific Holdings’ subsidiary RH Guillemard this year.
EdgeProp LandLens’ data shows that about 89.2% were Singaporeans. Of the 7.8% permanent residents, 2.9% were foreigners. The condo is conveniently located near transport hubs like the Paya Lebar MRT Station and Mountbatten & Aljunied MRT Stations.
Arena Residences’ recent sale in Geylang district 14, District 14 marked a psf high for freehold condos. The 603 sq ft 2-bedder sold for approximately $1.33 million or $2,213 per sq ft on October 10.
This sale is the only one at the boutique project this year. The seller purchased the unit for about $1.11m (or 1,846psf) back in January 2019. This would mean that the seller made an estimated $220,000 profit.
The previous psf high at Arena Residences, achieved in November 2012, was achieved when a 549-square-foot two-bedroom unit sold for about $2 million. ($2,186/sq-ft).
The price of this condo is the highest among all condos with a high-priced psf during the period Oct 3-10.
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The first 40 units of the 98 were sold during its November 2018 debut. It was sold in full by February 20, 2021. The condo consists of a mix between two-bedroom and three-bedroom apartments, with sizes ranging from 549 to 807 sq. ft.
The average selling price of a unit at Arena Residences in the past year was $2,200. In the meantime, its rental price ranges between $6.20 and $8.30 per sq ft per month (pm), averaging about $6.70. This corresponds to a rent yield of 3.6%.
Camelot-by-the-water, a 99 year leasehold condo, saw a new peak in terms of psf price during the period reviewed when a 3,035 sf, four bedroom apartment was sold for $6.7 million ($2,211 per sq ft) on Oct. 4.
This figure surpasses the previous highest, which was set in July with the sale of a 4-bedroom unit measuring 2,745 sq.ft. for $5.8million ($1,822psf).
Camelot By-The-Water Condominium is located in Kallang in District 15 along Tanjong Rhu Road. It was completed in 2000.
This year there have only been 2 resales.
Based on URA caveats submitted, this transaction is the most recent one that has taken place at the condo. It’s also the first unit to be sold there for more than $2000 psf.
The seller had purchased the unit in October 2012 for $4.78 Million ($1,575 psf), which is a profit of approximately $1.93 Million.
Centrepoint Properties developed the 99 condo units, which are now called Frasers Property. The waterfront project consists of units ranging in size between 2,400 and 5,800 sq.ft.
Hazel Park Condominium set a new record for psf with the July sale of an 1,324 sq. ft. unit. The three bedroom unit sold for $2.32 million or $1.752 sq ft.
Hazel Park Condominium is another development that saw a new price high for psf in the period under review. A 980 sq. ft. two-bedroom unit was sold on Oct. 9, at $2 million. That’s $2,042/sq. ft. The condo is selling a unit for more than $2,000 psf for the first time, according to the caveats.
The seller bought the apartment for $1.08m in October 2020 ($1,103 psf), making a profit worth $920,000.