The sale of a three-bedroom unit at Gallop Green for $8.58 million on Sept 10 has set a new psf-price record at the development. This reflects a price of $2,622 psf, surpassing the previous record of $2,431 psf by 7.9%.The previous high was established in September 2023 when a 3,229 sq ft unit changed hands for $7.85 million.Interestingly, the seller of the unit sold on Sept 10 had purchased it in December 2017 for $5.6 million. This means that the seller made a profit of $2.98 million, or a capital gain of 53%.Gallop Green, a freehold condo along Woollerton Park in Prime District 10, comprises four blocks housing 53 residential units ranging between 2,917 sq ft and 5,102 sq ft.The development has only seen one unit change hands so far this year. Last year, there were two resale transactions at the development. Besides the 3,229 sq ft unit that set the previous psf-price record, another 2,992 sq ft unit changed hands for about $7.23 million, or $2,414 psf, in July 2023.Several primary schools can be found within a 2km radius of Gallop Green such as Nanyang Primary School, Raffles Girls’ Primary School, and New Town Primary School.Apart from Gallop Green, another freehold condo, The Belvedere, also saw a new psf-price high during the review period. The condo hit a new high of $2,486 psf when a 1,302 sq ft, three-bedroom unit on the 18th floor was sold for about $3.24 million on Sept 11. This surpasses the previous record of $2,452 psf by 1.4%, which was set earlier this year on May 6 when a 1,259 sq ft, three-bedroom apartment on the 21st floor was sold for about $3.09 million.The Belvedere has already seen five units change hands so far this year at an average price of $2,341 psf. The unit to transact at the lowest psf-price was a 1,367 sq ft, three-bedroom apartment on the second floor that sold for $2.9 million, or $2,121 psf, on Sept 6.Completing the top three, YGK Garden saw a new psf-price high with the resale of a 2,067 sq ft unit on the third floor for $4.48 million, or $2,168 psf, on Sept 12. This sets a new record, surpassing the previous peak of $2,071 psf set in October 2023 when a neighbouring unit on the same floor was sold for $4.28 million.The 16-unit freehold condo, completed in 2008, is located along Belmont Road in Prime District 10. It is close to amenities found at Holland Village such as dining and retail options at One Holland Village and transport options from Holland Village MRT Station.Two other developments worth noting that saw new psf-price highs, were freehold condo 25 Shelford and freehold apartment Chelsea Gardens. Prices at both developments are approaching the $3,000 psf mark.Copyright © 2023. All rights reserved. EdgeProp Singapore.
As you venture into purchasing a condo, it’s essential to consider the necessary maintenance and management of the property. Along with the purchase, condos usually come with additional fees that cover the regular upkeep of shared areas and amenities. These fees may increase the overall cost of ownership, but they also guarantee that the property remains in good condition and maintains its value. By hiring a reputable property management company, investors can delegate the day-to-day management tasks of their condo, making it a more hands-off investment.