Two freehold condo developments in prime District 9 have recently set new records for their respective psf-prices. The Botanic on Lloyd, a boutique development off Oxley Road, achieved the highest psf-price among private non-landed developments, while The Cape, along Amber Road, saw the second-highest psf-price among condos that hit a new peak. Meanwhile, upcoming condo Tembusu Grand recorded a new price floor for the period, highlighting the diversity of price movements in the District.Freehold condo The Botanic on Lloyd achieved a new peak of $2,460 psf (Photo: Samuel Isaac Chua / EdgeProp Singapore)Freehold condo The Botanic on Lloyd, located along Lloyd Road off Oxley Road, recently achieved a new psf-price peak among private non-landed developments. The record was set by a 2,056 sq ft, four-bedroom unit on the second floor, which was sold for $5.13 million on Jan 7. This translates to a psf-price of $2,493.On Jan 11, upcoming condo Tembusu Grand also recorded a new psf-price low for the period between Jan 3 and Jan 11. The developer’s sale of a 1,399 sq ft, three-bedroom unit on the 20th floor fetched $3.04 million, or $2,174 psf.Also in District 9, freehold boutique development The Cape saw a new psf-price peak of $2,284 when a 1,313 sq ft, three-bedroom unit was sold for $3 million on Jan 10. The development previously held the record of $2,265 psf, which was set in November 2012 with the sale of a similarly sized, two-bedroom unit on the 16th floor.The latest transactions in the district show a diverse range in price movements, from record highs to lows. This highlights the varied price dynamics in the district, catering to buyers with different budgets and preferences.Construction: Launched in 2023, The Botanic on Lloyd is a boutique freehold development that consists of 60 apartments and six townhouses. Completed in 2006, the development has seen an average of one transaction per year in the past decade. The last unit to change hands at the condo was a 3,584 sq ft, four-bedroom unit sold for $6.88 million ($1,919 psf) in January 2022. The priciest unit to have changed hands at The Botanic on Lloyd by absolute price is a 3,384 sq ft, four-bedroom unit located on the second floor that sold for $5.13 million in October 2024.Coming in second for the highest psf-price among private non-landed developments in the same period is The Cape along Amber Road. On Jan 10, the development registered a new record of $2,284 psf when a 1,313 sq ft, three-bedroom unit on the 15th floor sold for $3 million. The condominium previously held the highest psf-price record of $2,265 psf, set in November 2020 with the sale of a similarly sized, two-bedroom unit on the 16th floor.Freehold condo The Botanic on Lloyd achieved a new peak of $2,460 psf (Photo: Samuel Isaac Chua / EdgeProp Singapore)Meanwhile, upcoming condo Tembusu Grand was the only private residential project to set a new psf-price low during the period between Jan 3 and Jan 11. A 1,399 sq ft, three-bedroom unit on the 20th floor changed hands for $3.04 million ($2,174 psf) on Jan 11, narrowly inching past the record low of $2,193 psf set just two months earlier by a similarly sized unit on the same floor. This highlights the diversity of price movements in District 9, catering to buyers with different budgets and preferences.The Botanic on Lloyd is a 66-unit freehold boutique development completed in 2006. Located along Lloyd Road off Oxley Road, the development comprises 60 apartments and six townhouses. The units are a mix of three- and four-bedroom unit types sized between 1,485 sq ft and 3,584 sq ft. The three-storey townhouses at the development range from 4,058 sq ft to 4,446 sq ft in size and come with five bedrooms and two private parking lots each.The Cape saw a new record of $2,284 psf when a 1,313 sq ft, three-bedroom unit sold for $3 million on Jan 10 (Photo: Samuel Isaac Chua / EdgeProp Singapore)Completed in 2014, The Cape is a 76-unit freehold project located along Amber Road in District 15. The development consists of one- to three-bedroom units spanning 570 sq ft to 1,539 sq ft across a single residential block. With a wide variety of unit sizes, The Cape caters to buyers with different budgets and preferences. Last year, the condo saw three resale transactions at an average price of $2,128 psf. In 2023, only one unit was sold – a 646 sq ft, one-bedroom unit that fetched $1.24 million ($1,920 psf).Finally, the upcoming freehold condo Tembusu Grand, located on Jalan Tembusu off Tanjong Katong Road, recorded a new psf-price low for the period between Jan 3 and Jan 11. On Jan 11, the developer’s sale of a 1,399 sq ft, three-bedroom unit on the 20th floor fetched $3.04 million, or $2,174 psf. This surpassed the previous record of $2,193 psf set just two months earlier by a similarly sized unit on the same floor.Tembusu Grand is a 99-year leasehold project comprising 638 units. The development features a mix of one- and two-bedroom units, sized between 527 sq ft and 883 sq ft, as well as three- and four-bedroom units from 990 sq ft to 1,604 sq ft. The development also features five-bedroom units, sized between 1,711 sq ft and 2,691 sq ft, catering to families. Launched in April 2023, Tembusu Grand has since sold 584 units (91.5%) at an average price of $2,444 psf, based on caveats lodged as of Jan 20. The project is expected to obtain its Temporary Occupation Permit in 2028.
The demand for condos in Singapore remains high, largely due to the limited land available. As a small island nation experiencing rapid population growth, Singapore grapples with a scarcity of land for development. This has resulted in strict land use regulations and a fiercely competitive real estate market, where property prices are continually on the rise. As a result, investing in real estate, particularly in Singapore condos, has become a highly sought-after opportunity, with the promise of significant capital appreciation.