Last penthouse at Sky Everton sets record price high of $3,189 psf in development

April 15, 2022



A six-bedroom penthouse unit at the upcoming Sky Everton set a new price record for the freehold condominium. The 2,228 sq ft unit on the 36th floor was sold by the developer for $7.1 million ($3,189 psf) on March 31.

Sky Everton is a 262-unit project along Everton Road in District 2. It is developed by SL Capital, a joint venture of Sustained Land, Ho Lee Group, Kwong Lee Land and Penjuru Capital. The project features a mix of one- to four-bedroom units that range from 463 sq ft to 1,345 sq ft.

The development also includes two penthouses that have both been sold. An 1,819 sq ft, five-bedroom penthouse was sold for $5.68 million ($3,127 psf) on Jan 30 while the larger six-bedroom penthouse was sold on March 31.

Sky Everton was one of the best-performing new projects in 2Q2019. The development was launched for sale in June 2019 and the developers sold more than 100 units over the following eight days and achieved a median price of $2,524 psf.

According to EdgeProp’s analysis of developer’s sales at Sky Everton, the project has seen relatively consistent sales over the past two years and prices have gradually risen to a median of $2,824 psf as of Feb 2022.

URA caveats also show that Sky Everton is 97% sold. Excluding the sale of the two penthouses, the most expensive unit at the condo is a 657 sq ft, two-bedroom unit on the 33rd floor that fetched $1.94 million ($2,952 psf) when it was sold in January 2020.

Another new project that saw a new price high set during the week was Leedon Green. An 818 sq ft, two-bedroom unit on the seventh floor was sold for $2.47 million ($3,025 psf) on March 29. It surpasses the previous record which was set by the sale of another 818 sq ft unit on the 12th floor that was sold for about $2.46 million ($3,017 psf) on Nov 27, 2021.

Read more at: https://www.edgeprop.sg/property-new...sf-development