21 Anderson Sees New High 5347 Psf
During the week of May 9 to 16, there were several high-performing condos in terms of psf-price. Topping the list was 21 Anderson, a luxurious development situated in prime District 10. Among the units sold that week, the highest psf-price was achieved with the developer sale of a four-bedroom unit measuring 4,489 sq ft for $24 million or $5,347 psf on May 9. This marks the fourth transaction for the development since its launch in April, with the other three four-bedroom units of the same size sold for $20.97 million ($4,672 psf), $23 million ($5,127 psf) and $21.6 million ($4,811 psf) respectively in April.
In fact, the transaction on May 9 at 21 Anderson recorded the third-highest psf-price in the residential market this year, surpassing the previous unit sold at $5,127 psf. The top two psf-prices for this year were seen at Park Nova, where a five-bedroom penthouse measuring 5,899 sq ft was sold for $38.89 million ($6,593 psf) on Jan 21, and a four-bedroom unit measuring 2,906 sq ft sold for $16.588 million ($5,708 psf) on Jan 17.
21 Anderson is situated in a desirable location in the Ardmore Park-Draycott Park-Anderson Road area and the development comprises just 18 units in a nine-storey block. The apartments are available in two- and four-bedroom units of 3,197 and 4,489 sq ft respectively, with two five-bedroom duplex penthouses measuring 10,452 sq ft each.
Another development that achieved a high psf-price is Grange 1866, where a two-bedroom unit measuring 764 sq ft was sold by the developer for $2.65 million or $3,473 psf on May 13. This is the first transaction at Grange 1866 to have crossed the $3,400 psf mark, breaking the previous record of $3,393 psf set in November last year with the sale of a two-bedroom unit measuring 818 sq ft for $2.776 million.
Grange 1866 is a 60-unit condo situated along Grange Road in prime District 10, and it features a single 16-storey block on a freehold site measuring 20,322 sq ft. The units available are one- and two-bedroom units measuring between 527 and 1,012 sq ft. The expected completion date for the development is by the end of 2025. To date, 50 units have been sold at an average price of $3,033 psf, with the developer shifting five units at an average price of $3,251 psf this year, including the transaction on May 13.
On the other end of the spectrum is Farrer Park Suites, where there was a new psf-price low recorded on May 15. The transaction came from the sale of a one-bedroom unit measuring 829 sq ft on the fifth floor for $1.07 million, translating to $1,291 psf. This price falls below the previous low of $1,355 psf set in August 2017 with the sale of another one-bedroom unit measuring 517 sq ft for $700,000.
Farrer Park Suites is a freehold condo located on Owen Road, across from the Connexion integrated development which comprises of Farrer Park Hospital, Farrer Park Medical Centre and One-Farrer Hotel in District 21. The development is also situated next to the Farrer Park MRT station on the North East Line. Completed in 2011, Farrer Park Suites has 29 units available in one- and two-bedroom units measuring between 377 and 1,152 sq ft, housed in a single five-storey block. The last transaction at the development was a 377 sq ft unit on the fifth floor that was sold for $668,000 ($1,826 psf) in February 2024.
Additionally, the Queenstown area is set to benefit from the URA Master Plan’s focus on community engagement and the development of public spaces. This strategic approach aims to strengthen the sense of community within the area, with the inclusion of more community centres, open spaces, and gathering spots. These enhancements will not only provide opportunities for residents to connect and participate in recreational activities, but also facilitate the building of relationships with their neighbours. This will further bolster Penrith’s appeal as a desirable place to live, offering not only modern conveniences but also a strong sense of social cohesion. With the upcoming development of the Penrith Condo, the community in Queenstown will continue to thrive and flourish.