New Reporter
21-07-23, 11:40
Record-low psf price at Starlight Suites as one-bedder sells for $1,359 psf
July 21, 2023
https://i.imgur.com/bhMEOaQ.jpg
The sale of a 1,163 sq ft one-bedroom plus study unit at Starlight Suites on River Valley Close marked the lowest psf price recorded by a condo between June 28 to July 7. The unit, which includes a large open air terrace, was sold for $1.58 million ($1,359 psf) on July 4. This is a new record-low for the condo since the previous record was the sale of a 2,486 sq ft two-bedroom plus-study unit on the 32nd floor that fetched $3.75 million ($1,508 psf) when it was sold on Jan 24 last year.
Starlight Suites is a 105-unit development that was completed in 2014. The condo is in the River Valley neighbourhood in prime District 9, placing it close to other prominent residential and commercial areas like Clarke Quay, Robertson Quay, Great World City, and the shops along Orchard Road.
Nearby residential developments include The Avenir which was launched in January 2020 by developers GuocoLand, Hong Leong Holdings and Hong Realty. GuocoLand also developed the neighbouring Martin Modern. Another new project in the area is Riviere by Frasers Property.
Based on resale caveats, prices have been steadily falling at Starlight Suites over the past few years. In July 2013, the average price was about $2,142 psf but this has since dropped to $1,843 psf this month. Likewise, unprofitable sales far outnumber profitable resales at the condo, with 24 losses against just two profitable resales. Losses range from $29,000 to $715,000.
Starlight Suites is the only freehold condo in this area where prices have fallen under $2,000 psf. In comparison, its neighbour Euro-Asia Court, which was completed in 1994, has an average price of $2,028 psf. Other freehold condos such as Martin Place Residences ($2,535 psf), Oleanas Residences ($2,107 psf) on Kim Yam Road and Martin No 38 ($2,436 psf) on Martin Road still command prices on par with the area.
A new psf-price-high was set at Myra, a boutique condominium along Meyappa Chettiar Road in Potong Pasir, when a 667 sq ft unit was sold for $1.81 million ($2,712 psf) on July 4. This transaction topped the list of condos that achieved a psf-price-high between June 28 and July 7.
Myra is a freehold condo by Malaysian development company Selangor Dredging. Located in the Potong Pasir neighbourhood, the project faces mixed-use development The Poiz Centre which is connected to Potong Pasir MRT station on the North-East line.
The condo also enjoys proximity to several schools in the area such as St Andrew’s Village which mainly houses St Andrew’s Primary School, St Andrew’s Secondary School and St Andrew’s Junior College. Cedar Primary School and Cedar Girls Secondary School are also within the vicinity.
Myra is an 85-unit uncompleted development with a mix of one- to four-bedroom units that range from 474 sq ft to 1,324 sq ft. The project was initially launched for sale in September 2020 with the developer moving 17 units at an average price of $2,000 psf over the Sept 26–27 launch weekend.
More at: https://www.edgeprop.sg/property-news/record-low-psf-price-starlight-suites-one-bedder-sells-1359-psf
July 21, 2023
https://i.imgur.com/bhMEOaQ.jpg
The sale of a 1,163 sq ft one-bedroom plus study unit at Starlight Suites on River Valley Close marked the lowest psf price recorded by a condo between June 28 to July 7. The unit, which includes a large open air terrace, was sold for $1.58 million ($1,359 psf) on July 4. This is a new record-low for the condo since the previous record was the sale of a 2,486 sq ft two-bedroom plus-study unit on the 32nd floor that fetched $3.75 million ($1,508 psf) when it was sold on Jan 24 last year.
Starlight Suites is a 105-unit development that was completed in 2014. The condo is in the River Valley neighbourhood in prime District 9, placing it close to other prominent residential and commercial areas like Clarke Quay, Robertson Quay, Great World City, and the shops along Orchard Road.
Nearby residential developments include The Avenir which was launched in January 2020 by developers GuocoLand, Hong Leong Holdings and Hong Realty. GuocoLand also developed the neighbouring Martin Modern. Another new project in the area is Riviere by Frasers Property.
Based on resale caveats, prices have been steadily falling at Starlight Suites over the past few years. In July 2013, the average price was about $2,142 psf but this has since dropped to $1,843 psf this month. Likewise, unprofitable sales far outnumber profitable resales at the condo, with 24 losses against just two profitable resales. Losses range from $29,000 to $715,000.
Starlight Suites is the only freehold condo in this area where prices have fallen under $2,000 psf. In comparison, its neighbour Euro-Asia Court, which was completed in 1994, has an average price of $2,028 psf. Other freehold condos such as Martin Place Residences ($2,535 psf), Oleanas Residences ($2,107 psf) on Kim Yam Road and Martin No 38 ($2,436 psf) on Martin Road still command prices on par with the area.
A new psf-price-high was set at Myra, a boutique condominium along Meyappa Chettiar Road in Potong Pasir, when a 667 sq ft unit was sold for $1.81 million ($2,712 psf) on July 4. This transaction topped the list of condos that achieved a psf-price-high between June 28 and July 7.
Myra is a freehold condo by Malaysian development company Selangor Dredging. Located in the Potong Pasir neighbourhood, the project faces mixed-use development The Poiz Centre which is connected to Potong Pasir MRT station on the North-East line.
The condo also enjoys proximity to several schools in the area such as St Andrew’s Village which mainly houses St Andrew’s Primary School, St Andrew’s Secondary School and St Andrew’s Junior College. Cedar Primary School and Cedar Girls Secondary School are also within the vicinity.
Myra is an 85-unit uncompleted development with a mix of one- to four-bedroom units that range from 474 sq ft to 1,324 sq ft. The project was initially launched for sale in September 2020 with the developer moving 17 units at an average price of $2,000 psf over the Sept 26–27 launch weekend.
More at: https://www.edgeprop.sg/property-news/record-low-psf-price-starlight-suites-one-bedder-sells-1359-psf