About K Suites Sets New Record at S$2,443psf | Between November 1 and November 10, K Suites, a freehold boutique development, achieved a significant milestone by setting a new price record. The developer sold a three-bedroom unit. Measuring 872 sqft, for S$2.13 million on November 8, resulting in a price of S$2,443psf. This marks the first time K Suites has exceeded the S$2,400 psf threshold. It surpasses the previous high of S$2,196psf set in May 2023.
Located in District 15 at Lorong K Telok Kurau, K Suites is a five-storey development offering 19 exclusive units. The development sits on the site of the former Ji Liang Gardens. Which was acquired en bloc by the developer for S$18.6 million in June 2021. The apartments at K Suites range from three- to four-bedroom configurations, with sizes varying from 797 sqft to 1,270 sqft. Additionally, there are four-bedroom duplex penthouses at 1,389 sqft and five-bedroom duplex penthouses, ranging between 1,625 sqft and 1,679 sqft.
Since sales began in April 2023, K Suites has sold 42% of its units at an average price of S$2,099psf. The development’s prime location, boutique design, and quality finishes have made it a popular choice among buyers.
Thomson Three Breaks S$2,300psf Barrier
Thomson Three, a 99-year leasehold condominium located at Bright Hill Drive in District 20. This development also saw a new price high during this period. On November 6, a three-bedroom unit measuring 1,033 sqft on the 19th floor was sold for S$2.46 million, which works out to S$2,379psf. This marks the first time Thomson Three surpassed the S$2,300psf mark, breaking its previous record of S$2,204psf from September 2023.
The seller of the unit made a profit of S$598,000, having bought it for S$1.86 million (S$1,800psf) in November 2021. Thomson Three, completed in 2016, consists of 435 units in various configurations. Including one- to four-bedroom apartments ranging from 495 sqft to 1,485 sqft. The development also offers 10 strata semi-detached houses, each measuring 3,283 sqft.
Thomson Three enjoys excellent transport links, being within walking distance of the Upper Thomson MRT Station on the Thomson-East Coast Line. It is also conveniently located near Ai Tong Primary School, making it an attractive choice for families with young children.
19 Nassim Sees Price Adjustment to S$2,947psf (K Suites Sets New Record)
In contrast, 19 Nassim, a luxury condominium in District 10, experienced a price adjustment during the same period. A 646 sqft one-bedroom unit was sold for S$1.9 million on November 9, resulting in a price of S$2,947psf. This represents the first time that 19 Nassim has seen its prices dip below the S$3,000 psf threshold, compared to the previous low of S$3,001psf from March 2023.
Read Also: Private Home Sales Soar in October, November Set for Strong Momentum
Despite the price reduction, 19 Nassim continues to attract significant interest from buyers. Since its launch in 2020, the development has sold 50 units, with an average price of S$3,397psf. This is a 3.7% decrease from the previous year’s average of S$3,524 psf. Completed in 2023, 19 Nassim is a 10-storey development with 101 units, ranging in size from 538 sqft to 1,830 sqft, and offering one- to three-bedroom apartments.
Located in the prestigious Nassim Hill area, 19 Nassim offers residents a luxurious lifestyle with close proximity to Orchard Road, Singapore’s premier shopping and entertainment district. The development is highly regarded for its exclusive location and modern design.
More on K Suites Sets New Record at S$2,443psf
These trends reflect the varied dynamics within the Singapore real estate market. K Suites and Thomson Three have both achieved new price highs, with K Suites benefiting from its boutique offering and prime location, while Thomson Three’s higher prices are driven by its family-friendly environment and connectivity. Meanwhile, 19 Nassim’s price adjustment highlights the natural fluctuations within the luxury market, though it remains a desirable choice for those seeking a premium address in the city.
Each of these developments demonstrates the different factors that shape property prices in Singapore, including location, amenities, and market conditions. As the market evolves, these developments will continue to set the stage for future transactions.
Find out on other upcoming launches – Arina East Residences (ZACD Group), The Orie (CDL), Aurea Condo (Perennial Holdings), River Green (Wing Tai). Bloomsbury Residences (Qingjian Realty), Aurelle of Tampines (Sim Lian) and Elta Condo (CSC Land).
