Done Deals
City Square Residences resale prices above $1,000 psf
The Edge
Monday, 14 December 2009
Since June this year, transaction prices of apartments at the 910-unit
City Square Residences in the secondary market have increasingly crossed $1,000 psf, hitting a high of
$1,271 psf in August, when a 570 sqft studio apartment on the 26th floor of one of the 2 30-storey towers was sold for $725,000. Since October, however, more units have been changing hands in the resale market at prices above the $1,000 to $1,100 psf range.
There has also been an increase in transactions last month. In November, up to the latest caveat lodged on Nov 18 — for a 3 bedroom 1,518 sqft unit that changed hands for $1.49 million — there were already 8 transactions at City Square Residences, compared with 7 recorded in October, according to the URA Realis database of caveats. The buoyant prices at City Square Residences can be attributed to the launch of the 40-unit boutique-apartment project
City Loft on Race Course Road by Oxley (Ascend Capital Pte Ltd) in late October, where units were sold at
$999 to $1,154 psf, according to caveats lodged. The development is made up of 34 units of studio apartments ranging from 322 to 419 sqft and six two-bedroom “penthouses” of 742 to 904 sqft.
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