Arena Residences Freehold Condos reaches new high of $2213 per sq. ft.

Arena Residences Freehold Condos reaches new high of $2213 per sq. ft.

Arena Residences, located on Guillemard Lane and completed in this year, was developed by RH Guillemard. Roxy-Pacific Holdings is a subsidiary.

The previous high psf price at Arena Residences came from the sale of a two-bedroom apartment in 549 sq ft at around $2 million ($2,186 per square foot) last November.

At its November 2018 launch, 40 of its 98 available units were purchased. By February 2021, the condo was completely sold. The condo has a mixture of two- and 3-bedroom units. Sizes start at 549 and 807 square feet, respectively.

Arena Residences is a freehold condominium in Geylang’s District 14. A recent transaction marked the highest psf price for this condo. On 10th October, a 603 square ft, two-bedder changed hands at a price of $1.33mil, or $2.213 per sqft.

This is the most expensive psf among all condos which achieved a high psf for the period between Oct 3 and 10.

This is the first sale of the boutique development this year. The seller bought the unit in January 2019 at $1.11m (1,846psf). They made a gain of approximately $220,000.

Data from EdgeProp’s LandLens shows that 89.2% (or a little over 900,000) of the condo’s buyers are Singaporeans. Another 7.8% (7,8%) are permanent residents. The remaining 2.9% (2,9%) are foreigners. The condo has good access to transport hubs such as Paya Lebar MRT Stations, Mountbatten MRT Stations and Aljunied MRT Stations.

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According to caveats made in the last year, units at Arena Residences usually fetch an average of about $2,200 per square foot. Its rental prices range between $6.20- $7.30 psf/month (pm), with an average of $6.70/psf/pm. This would translate to a yield of around 3.6%.

There have only been two resales of the condo so far this year.

Camelot By-The-Water was built in 2000 and is located on Tanjong Rhu Road, in Kallang’s District 15. It has a 99-year-leasehold.

Centrepoint Properties – now Frasers Property – developed the 99 unit condo. The waterfront development includes a mix of units with three to five bedrooms, ranging in size from 2,400 to 5,800 square feet.

Hazel Park Condominium saw another new psf high during the review period, with the sale on Oct 9 of a two-bedder measuring 980 square feet for $2,000,000, or $2 042 psf. Based on the caveats filed, this is first time the condo sold a unit over $2,000 psf.

The seller sold the unit to a buyer for $1.08million ($1,103psf) on October 2020 and made a profit $920,000.

Hazel Park Condominium had previously achieved the highest psf price with a sale of a unit measuring 1,324 square feet in July. The three-bedder was sold for $2.32m, or $1.752 psf.

Camelot By The Water, a 99-year leasehold condominium, also had a new price high for psf during the period under review. A 3,035 square foot, four-bedroom flat was sold at $6.71 million (2,211 psf), on October 4. This is a new high, surpassing the previous one set in July when a unit with four bedrooms and 2,745 sq. ft. was sold for $5.8 million ($1,822psf).

The condo is experiencing its latest sale, marking the first ever time a unit was sold at more than $2,000 per sq. ft., according to URA caveats. The seller bought the unit for $4.78 (or $1,575 per square foot) in October 2012 and made a profit around $1.93.

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