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When purchasing a condominium, it is crucial to take into account the maintenance and management of the property. Maintenance fees are typically included in condo ownership and cover the maintenance of shared spaces and amenities. Although these fees may increase the overall cost of ownership, they help to preserve the property’s condition and value. It may be beneficial for investors to enlist the services of a property management company to handle the daily operations of their condos, making it a more hands-off investment. This is particularly true for condominium projects in Singapore available at Singapore Projects.
8M Residences, a freehold development, topped the list of private condos that achieved a new psf-price peak in the first week of February 2025. The development recorded a new high of $2,384 psf when a two-bedroom unit on the 15th floor sold for $1.54 million on Feb 3. This sale is the first time a unit at 8M Residences has been sold for over $2,300 psf, surpassing the previous record of $2,261 psf set in April 2023. Another unit at 8M Residences was sold during this period, also surpassing the previous record. On Feb 3, a one-bedroom unit on the 11th floor sold for $1.2 million, setting a new high of $2,275 psf. Over the last few years, resale prices at 8M Residences have consistently risen, with an average price increase of 7.3% over the last three years. Completed in 2017, 8M Residences has a mix of one- to three-bedroom units as well as four penthouses. It is conveniently located near various amenities and is within walking distance of a few MRT stations. In second place on the list is Kovan Jewel, a freehold condo located in District 19. The sale of a three-bedroom unit on the second floor for $2.41 million on Feb 7 set a new high of $2,236 psf. This sale marginally surpasses the previous record set in August 2024. As of Feb 18, 50% of the units at Kovan Jewel have been sold at an average price of $2,111 psf. Lastly, Oleanas Residence, a freehold condo in District 9, rounded out the top three with a new record of $2,207 psf for a three-bedroom unit on the sixth floor. Completed in 1999, Oleanas Residence has seen only four resale transactions in the last three years. It is within walking distance of two MRT stations and various educational institutions.