Four Bedder Volari Sets Record Price High 2796 Psf
The Volari, a freehold condominium in prime District 10, saw the sale of a four-bedroom unit breaking the record for the highest psf price over the week of May 30 to June 6. The fourth-floor 2,174 sq ft unit fetched $6.08 million, at $2,796 psf, on June 3. This new record beats the previous high of $2,690 psf set in March when a similar-sized unit on the ninth floor sold for $5.85 million. It is also the most expensive unit sold at Volari in terms of absolute price, with a four-bedroom unit on the 12th floor going for $10 million ($1,621 psf) back in December 2012.
Located on Balmoral Road, Volari is a freehold development with 85 units. Completed in 2012, it offers a mix of two- to four-bedroom units ranging from 1,324 sq ft to 3,950 sq ft. According to caveats compiled by EdgeProp Singapore, resale prices at Volari have been on the rise in recent years, climbing from $2,035 psf in June 2015 to around $2,590 psf this month.
Sloane Residences, a new neighbouring development with 52 units, is currently the most recent project in the area. Completed in 2022, it has an average resale price of $2,920 psf. Other nearby condominiums include Goodwood Grand ($1,135 psf), Balmoral 8 ($2,025 psf), and Ventuno Balmoral ($1,605 psf).
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The second-highest psf price during the week was achieved by the sale of a three-bedroom unit at La Maison. The 1,259 sq ft unit, situated on the eighth floor, sold for $2.55 million ($2,025 psf) on June 6. This new record marginally beat the previous high of $2.56 million ($2,016 psf) set in January this year, when a 1,270 sq ft unit on the 12th floor changed hands.
The sale of the 2,174 sq ft four-bedroom unit at Volari set a record psf price of $2,796 psf. (Picture: Samuel Isaac Chua/)
The sole resale transaction recorded at La Maison so far this year, the eighth-floor unit set a new record psf price at the condominium. Nonetheless, there were four resale transactions recorded in 2019, with prices ranging from $2.48 million ($1,969 psf) for a 1,259 sq ft unit sold on March 4 to $2.53 million ($1,959 psf) for a 1,291 sq ft unit sold in May.
La Maison, a 24-unit freehold project located on Moulmein Rise in prime District 11, was completed in 1999 and offers three- and four-bedroom units from 1,259 sq ft to 3,854 sq ft. Based on caveats compiled, resale prices at La Maison have been increasing in recent years, from around $860 psf in June 2002 to nearly $2,000 psf this month.
The development is in close proximity to the planned HealthCity Novena, an integrated healthcare hub spread over 17ha of land between Moulmein Road and Irrawaddy Road. The hub is centred around Tan Tock Seng Hospital, Ren Ci Hospital, specialist centres such as the National Infectious Diseases Centre, National Neuroscience Institute, and academic institutes such as the Lee Kong Chian School of Medicine.
La Maison is also near Novena MRT Station on the North-South Line, as well as various shopping centres such as Square 2, Velocity @ Novena Square, and United Square. Two primary schools – Farrer Park Primary School and St Joseph’s Institution Junior – are within 1km of La Maison.
Another project that topped the list of psf-price highs during the week is Affinity @ Serangoon, where a 1,076 sq ft three-bedroom unit was sold for $2.15 million ($1,997 psf) on June 6. This new record was higher than the previous one of $1.8 million ($1,991 psf) set in October 2023 for a 904 sq ft three-bedder.
Located on Serangoon North Avenue 1 in District 19, Affinity @ Serangoon is a 99-year leasehold condominium with 1,012 units and 40 strata landed houses. The development, completed in 2022, offers one- to four-bedroom units ranging from 474 sq ft to 1,711 sq ft, penthouses from 1,550 sq ft to 1,701 sq ft, and townhouses from 2,056 sq ft to 2,347 sq ft.
Affinity @ Serangoon has seen 46 recorded transactions so far this year, with resale prices ranging from $2.16 million ($1,882 psf) for a 1,152 sq ft three-bedder sold on April 25 to $790,000 ($1,668 psf) for a 474 sq ft one-bedroom unit sold on May 13. The average resale price at Affinity @ Serangoon is approximately $1,780 psf, which is comparable to that of nearby 99-year leasehold condominiums like The Garden Residences (resale price of $1,815 psf) and The Terrasse (resale price of $1,570 psf).
Based on URA’s OneMap, Affinity @ Serangoon is within 1km of Rosyth School and Zhonghua Primary School. Other schools in the area include CHIJ Our Lady of Good Counsel, Xinmin Primary School, Peicai Secondary School, Serangoon Garden Secondary School, and Bowen Secondary School.