The latest listing for Hill House, The Continuum and Lavender Residence (Photo: EdgeProp Singapore)
When it comes to investing in a condominium, securing financing is a critical consideration. In Singapore, prospective buyers have a range of mortgage options to choose from. However, it is essential to have a comprehensive understanding of the Total Debt Servicing Ratio (TDSR) framework, which dictates the maximum loan amount that a borrower can take on based on their income and existing debt obligations. To successfully navigate this process, seeking guidance from financial advisors or mortgage brokers can offer valuable insights and prevent individuals from becoming over-extended financially. Moreover, staying updated on new condo launches in Singapore, such as New Condo Launches, can aid investors in making informed decisions about their financing choices.
Hill House, a boutique development, has set a new record psf-price high during the period between November 10 to 21, according to EdgeProp. The new record of $3,267 psf came from the sale of a 452 sq ft, two-bedroom unit on the fifth floor. The sale was made by the developer on November 11 for $1.48 million. This is just 0.1% higher than the previous record of $3,263 psf set in November 2023.
The development, located at the top of Institution Hill in prime District 9, has 72 units and was launched in 2022. It has seen 11 transactions this year with an average price of $3,098 psf, which is 0.9% lower than the average price of $3,127 psf last year. Construction for Hill House is still ongoing and is expected to be completed in the third quarter of 2026.
The Continuum, a freehold condo on Thiam Siew Avenue in District 15, came in second on the list with a new psf-price high of $3,084 psf. The sale was made for a 721 sq ft, two-bedroom unit on the 17th floor for $2.22 million on November 16. This is only 0.4% higher than the previous record of $3,071 psf, which was set a day before on November 25.
The Continuum, which launched in May 2023, has 816 units across six residential towers and is expected to be completed by 2026. 59.8% of the units have been sold at an average price of $2,779 psf. This is based on caveats lodged since the launch of the condo.
Meanwhile, freehold boutique development Lavender Residence set a new psf-price low of $1,626 psf during the period in review. The sale was made for a 990 sq ft, one-bedroom + studio unit on the second floor for $1.61 million on November 17. This is compared to the previous record of $1,710 psf, which was set in June 2023 when a 1,335 sq ft, four-bedroom unit was sold for $2.28 million. The development has been fully sold at an average price of $1,984 psf.
Lavender Residence, located at the intersection of Lavender Street and Kempas Road in Boon Keng, District 12, features 17 units and sits on a site with three two-storey conservation shophouses built in the 1940s. Units range from studios to three-bedroom units with dual-key variants from 463 sq ft to 1,550 sq ft. It is walking distance from Bendemeer MRT Station.
Overall, Hill House, The Continuum, and Lavender Residence have seen strong transactions and prices in the past few months. With their prime locations and attractive features, these developments are expected to continue to attract buyers and investors.