The Botanic on Lloyd, a freehold condominium, has set a new record for the highest psf-price among private non-landed developments from January 3 to 11. This new peak was achieved after a 2,056 sq ft unit on the second floor was sold for $5.13 million, or $2,493 psf, on January 7. This new record surpasses the previous high of $2,339 psf by 6.6%, which was set in October 2024 when a 1,496 sq ft unit on the fourth floor was sold for $3.5 million.
However, transactions at the 66-unit development have been few and far between, averaging only one transaction per year for the past decade. Prior to the record-setting sale in October 2024, the previous sale was in January 2022 when a 3,584 sq ft four-bedroom unit was sold for $6.88 million, or $1,919 psf. This remains the highest-recorded absolute price for any unit at The Botanic on Lloyd.
When it comes to real estate investments, location plays a key role, and this is particularly evident in Singapore. Condominiums located in central areas or close to essential amenities, such as schools, shopping malls, and public transportation hubs, tend to experience higher appreciation in value. Prime areas like Orchard Road, Marina Bay, and the Central Business District (CBD) are perfect examples where property prices have consistently increased. Additionally, being in proximity to reputable educational institutions and schools makes condos in these locations highly sought after by families, further strengthening their investment potential. For more information on Singapore projects, visit thebellegame.com.
Completed in 2006, The Botanic on Lloyd is a freehold boutique development located along Lloyd Road in Prime District 9. It comprises 60 apartments and six townhouses, with a mix of three- and four-bedroom units ranging from 1,485 sq ft to 3,584 sq ft. The three-storey townhouses span 4,058 sq ft to 4,446 sq ft, and each comes with five bedrooms and two private parking lots.
The next development to set a new record was The Cape, a freehold boutique development located along Amber Road in District 15. A 1,313 sq ft three-bedroom unit on the 15th floor was sold for $3 million, or $2,284 psf, on January 10, surpassing the previous record of $2,265 psf for a unit at The Cape. This previous record was set when a 1,539 sq ft, two-bedroom unit on the 16th floor was sold by the developer for $3.49 million in November 2012.
Last year, The Cape saw three resale transactions at an average price of $2,128 psf, while in 2023, only one unit was sold – a 646 sq ft one-bedroom unit that fetched $1.24 million, or $1,920 psf.
Tembusu Grand, a 99-year leasehold development located off Tanjong Katong Road in prime District 15, was the only private residential project to set a new psf-price low during the period from January 3 to 11. On January 11, a three-bedroom unit on the 20th floor was sold for $3.04 million, or $2,174 psf, surpassing the previous low of $2,193 psf set just two months earlier in November 2024, when another three-bedroom unit on the same floor was sold for $3.07 million.
Launched in April 2023, Tembusu Grand is comprised of one- to two-bedroom units (577 sq ft to 883 sq ft), three- to four-bedroom units (990 sq ft to 1,604 sq ft), and five-bedroom units (1,711 sq ft to 2,691 sq ft). As of January 20, the 638-unit development has sold 584 units (91.5%) at an average price of $2,444 psf. It is expected to obtain its Temporary Occupation Permit in 2028.