Cairnhill Residences hits new high of $2,693 psf

SINGAPORE (EDGEPROP) - Freehold condo Cairnhill Residences in prime District 9 has topped the list of condos that reached a new price high between Sept 13 and Sept 20. A 1,173 sq ft three-bedder on the ninth floor at the development changed hands for $3.16 million on Sept 18, which works out to $2,693 psf. The seller had bought the unit at about $2.64 million ($2,251 psf) in April 2021, thus making a net profit of about $519,500 on the sale. The new psf-price high is only 0.6% higher than the previous record of $2,676 psf that came with the sale of a similar-sized unit on the 14th floor for $3.14 million in April 2023. Read also: Opportunity to buy rare, freehold retro bungalow on Gilstead Rd for $16.99 mil Advertisement Advertisement Located on Cairnhill Circle in Orchard, Cairnhill Residences is a freehold development that was completed in 2009. It houses 97 units across two 20-storey towers. The units comprise two-bedroom units of 904 sq ft, three-bedroom units of 1,163 sq ft to 1,173 sq ft, and penthouses of 2,131 sq ft to 2,497 sq ft. There are also three-bedroom units with private enclosed spaces on the first floor that occupy between 1,421 sq ft and 1,432 sq ft. Another development, Commonwealth Towers, saw a new psf-price high at $2,402 psf during the period in review. The record came from the resale of a 689 sq ft, two-bedroom unit on the 42nd floor. The unit was sold at $1.66 million on Sept 17. The seller had bought the unit from the developer for $1.308 million ($1,899 psf) in June 2017. As a result, they netted a profit of about $347,000. The Sept 17 transaction is the first time the condo has passed the $2,402 psf mark. The development’s previous high of $2,323 psf was set on July 29 when a 1,055 sq ft three-bedroom unit on the 29th floor changed hands for $2.45 million. Commonwealth Towers has seen 27 transactions this year, with units sold between $2,085 psf and $2,402 psf. The condo is a 99-year leasehold on Commonwealth Avenue in District 3, Queenstown. It was completed in 2017 and has 845 units. The units comprise one- to four-bedders from 441 sq ft to 1,302 sq ft. The condo is across the street from Queenstown MRT Station on the East-West Line and is within walking distance of Queenstown Primary School. In District 11, Buckley Classique also saw a new psf-price peak of $2,376 during the period in review. The record comes with the sale of a 1,410 sq ft, three-bedroom unit on the fourth floor for $3.35 million on Sept 19. The seller had bought the unit from the developer for $3.24 million ($2,300 psf) in April 2013, making a net profit of about $106,300 from the sale. Read also: Sky Vue achieves new high of $2,366 psf Advertisement Advertisement The new psf-price high beats the previous record of $2,340 psf set just a few months ago. On April 5, a three-bedroom apartment of similar size on the same floor changed hands for $3.3 million. Located on Buckley Road in Novena, Buckley Classique was completed in 2014. The freehold low-rise condo has 64 one- to five-bedroom units from 1,098 sq ft to 4,359 sq ft. The development is close to the Novena MRT Station on the North-South Line. No new psf-price lows were recorded during the period in review. Check out the latest listings for Cairnhill Residences, Commonwealth Towers, Buckley Classique properties Ask Buddy Compare price trend of HDB vs Condo vs Landed Any condo rental listings in District 11? Tenure of Cairnhill Residences View sale transactions for Buckley Classique Are there unprofitable transactions in Cairnhill Residences? Compare price trend of HDB vs Condo vs Landed Any condo rental listings in District 11? Tenure of Cairnhill Residences View sale transactions for Buckley Classique Are there unprofitable transactions in Cairnhill Residences?