Top Selling Condos in Singapore 2024 in CBD
This report provides an analysis of the top-selling private condominium projects in Singapore for the first quarter of 2024. The data includes key metrics such as project details, district, tenure, unit types, price range, price per square foot (PSF), and the number of transactions. Understanding these trends is essential for property analysts, investors, and developers to grasp the dynamics of the real estate market.
Key Findings
District Distribution: The top-selling projects are concentrated in Districts 1 and 2, which are prime locations in Singapore known for their central business district and proximity to amenities.
Tenure: The majority of the top-selling projects have a 99-year leasehold tenure, indicating a preference for longer lease durations among buyers. Freehold properties, however, also garnered attention, particularly in District 2.
Unit Types: One to four-bedroom units dominate the sales, catering to a diverse range of buyers, from singles to families. Larger units, such as five-bedroom and penthouses, although fewer in number, command premium prices.
Price Range and PSF: Prices range from affordable options around $570,000 to luxurious properties exceeding $5 million. The average PSF varies across projects, influenced by factors such as location, facilities, and property age.
Transaction Volume: While some projects witnessed high transaction volumes, others had fewer but higher-priced transactions. This diversity reflects the varied preferences and affordability levels of buyers in the market.
Trends and Insights
Luxury Segment Resilience: Despite economic uncertainties, luxury properties like Sky Everton and Wallich Residence maintained strong demand, indicating resilience in the high-end segment.
Location Influence: Projects situated in prime districts, such as Marina Bay and Tanjong Pagar, command higher prices and attract more buyers due to their accessibility and prestige.
Investor Interest: Freehold properties in District 2, such as Sky Everton and Onze @ Tanjong Pagar, attracted investors seeking long-term appreciation potential and rental income.
New Launch Impact: Newly launched projects like One Bernam and Sky Everton made significant contributions to Q1 2024 sales, signaling positive market sentiment towards fresh offerings.
Conclusion
The Q1 2024 data reveals a resilient and dynamic real estate market in Singapore, with strong demand observed across various segments and locations. Property analysts, investors, and developers should closely monitor these trends to make informed decisions and capitalize on opportunities in the evolving market landscape. Further analysis into buyer demographics, market sentiment, and regulatory changes can provide deeper insights for strategic planning and investment decisions.
| No. | Project | District | Tenure | TOP | Bedroom | Lowest Price | Avg.Price | Highest Price | Lowest PSF | Avg.PSF | Highest PSF | Number of Transactions |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | THE SAIL@ MARINA BAY | D01 | 99 Years | 2008 | 1,2,3,4 | $1,160,000 | $2,170,996 | $5,000,000 | $1,729 | $2,041 | $2,432 | 26 |
| 2 | ONE BERNAM | D02 | 99 Years | 2026 | 1,2,3 | $1,510,000 | $2,462,895 | $3,685,000 | $2,289 | $2,685 | $3,344 | 19 |
| 3 | ICON | D02 | 99 Years | 2007 | 1,2 | $1,060,000 | $1,420,252 | $2,225,000 | $1,645 | $1,881 | $2,029 | 15 |
| 4 | ONE SHENTON | D01 | 99 Years | 2011 | 1,2,3,4 | $1,120,000 | $2,188,498 | $4,060,000 | $1,548 | $1,782 | $2,081 | 13 |
| 5 | SKYSUITES@ANSON | D02 | 99 Years | 2015 | 1,2 | $868,000 | $1,252,727 | $1,610,000 | $2,087 | $2,318 | $2,604 | 11 |
| 6 | MARINA BAY RESIDENCES | D01 | 99 Years | 2010 | 1,2,4 | $1,420,000 | $2,720,432 | $6,900,000 | $1,999 | $2,324 | $2,914 | 9 |
| 7 | THE CLIFT | D01 | 99 Years | 2011 | $970,000 | $1,171,000 | $1,568,000 | $1,895 | $1,986 | $2,029 | 8 | |
| 8 | INTERNATIONAL PLAZA | D02 | 99 Years | 1976 | 1,2 | $1,100,000 | $1,505,714 | $1,860,000 | $1,122 | $1,230 | $1,306 | 7 |
| 9 | LUMIERE | D02 | 99 Years | 2012 | 1,2 | $938,000 | $1,066,857 | $1,150,000 | $1,551 | $1,706 | $1,854 | 7 |
| 10 | SPOTTISWOODE 18 | D02 | Freehold | 2015 | 1,2 | $918,000 | $1,055,815 | $1,438,888 | $2,191 | $2,352 | $2,434 | 6 |
| 11 | 76 SHENTON | D02 | 99 Years | 2014 | 1,2 | $1,190,000 | $1,438,600 | $1,820,000 | $1,781 | $1,958 | $2,091 | 5 |
| 12 | SPOTTISWOODE RESIDENCES | D02 | Freehold | 2014 | 1,2 | $1,293,000 | $1,840,600 | $2,280,000 | $2,035 | $2,252 | $2,407 | 5 |
| 13 | EON SHENTON | D02 | 99 Years | 2019 | 2,3 | $1,170,000 | $1,612,000 | $1,838,000 | $1,381 | $1,895 | $2,439 | 4 |
| 14 | SPOTTISWOODE SUITES | D02 | Freehold | 2017 | 1,2 | $1,028,000 | $1,314,500 | $2,070,000 | $2,329 | $2,399 | $2,447 | 4 |
| 15 | EMERALD GARDEN | D01 | 999 Years | 1998 | 2 | $2,080,000 | $2,170,000 | $2,330,000 | $2,147 | $2,256 | $2,379 | 3 |
| 16 | MARINA ONE RESIDENCES | D01 | 99 Years | 2017 | 1 | $1,475,000 | $1,568,333 | $1,690,000 | $2,104 | $2,152 | $2,243 | 3 |
| 17 | RIVERWALK APARTMENTS | D01 | 99 Years | 1990 | 1 | $1,850,000 | $2,100,000 | $2,500,000 | $1,548 | $1,786 | $2,261 | 3 |
| 18 | VON SHENTON | D01 | 99 Years | 2017 | 1,3 | $1,370,000 | $2,453,333 | $3,390,000 | $1,917 | $2,186 | $2,708 | 3 |
| 19 | ALTEZ | D02 | 99 Years | 2014 | 1 | $1,520,000 | $1,535,000 | $1,550,000 | $1,765 | $1,783 | $1,800 | 2 |
| 20 | CRAIG PLACE | D02 | 99 Years | 2003 | 1 | $1,020,000 | $1,204,400 | $1,388,800 | $1,822 | $1,969 | $2,115 | 2 |
| 21 | MARINA BAY SUITES | D01 | 99 Years | 2014 | 3,4 | $2,980,000 | $3,990,000 | $5,000,000 | $1,858 | $1,862 | $1,866 | 2 |
| 22 | PEOPLE’S PARK COMPLEX | D01 | 99 Years | 1973 | 3 | $570,000 | $795,000 | $1,020,000 | $911 | $1,153 | $1,394 | 2 |
| 23 | ROBINSON SUITES | D01 | Freehold | 2016 | 2 | $1,460,000 | $1,630,000 | $1,800,000 | $1,922 | $2,151 | $2,380 | 2 |
| 24 | SPOTTISWOODE PARK | D02 | 99 Years | N/A | 2 | $924,000 | $1,037,000 | $1,150,000 | $862 | $975 | $1,087 | 2 |
| 25 | THE BEACON | D02 | 99 Years | 2008 | 2,3 | $1,800,000 | $2,115,000 | $2,430,000 | $1,548 | $1,592 | $1,636 | 2 |
| 26 | DORSETT RESIDENCES | D02 | 99 Years | 2013 | $1,100,000 | $1,100,000 | $1,100,000 | $2,271 | $2,271 | $2,271 | 1 | |
| 27 | ONZE @ TANJONG PAGAR | D02 | Freehold | 2017 | 1 | $1,270,000 | $1,270,000 | $1,270,000 | $2,226 | $2,226 | $2,226 | 1 |
| 28 | SKY EVERTON | D02 | Freehold | 2023 | 5 | $5,380,000 | $5,380,000 | $5,380,000 | $2,957 | $2,957 | $2,957 | 1 |
| 29 | WALLICH RESIDENCE | D02 | 99 Years | 2018 | 3 | $5,210,000 | $5,210,000 | $5,210,000 | $3,123 | $3,123 | $3,123 | 1 |
