Three-bedder at Jervois Prive fetches new high of $3,220 psf
Boutique project Jervois Prive hit a new psf-price high for the development when a 1,109 sq ft, three-bedroom unit on the fifth floor was sold for $3.57 million ($3,220 psf) on April 17. This sale saw the highest psf-price among condos for the week of April 14 to 21. The psf price of the three-bedder is higher than the previous record in Jervois Prive. That was for a 710 sq ft, two-bedroom unit, also on the fifth floor, which was sold for $2.13 million ($3,000 psf) on Feb 12.
Jervois Prive is a 43-unit boutique development and the maiden project of property developer Midas Land. The freehold condo is on Jervois Road in prime District 10. This neighbourhood is characterised by the Chatsworth Park Good Class Bungalow Area and high-end condos along Jervois Road.
Nearby schools include Alexandra Primary School, Crescent Girls’ School and Queenstown Secondary School.
Jervois Prive features a mix of one- to three-bedroom units ranging from 549 to 1,389 sq ft. It was launched for sale in May 2019. According to developer’s sale data by URA, the development has sold six units to date.
Other nearby freehold condos include Jervois Meadows and Dormer Park, both located in Jervois Road. Both were built in the early 1990s, and units that changed hands recently
fetched average prices of $1,776 and $1,873 psf, respectively.
According to URA caveats, the most expensive unit by absolute price at Jervois Prive so far is a 1,389 sq ft three-bedder. It was sold by the developer for $3.91 million ($2,817 psf) on June 6, 2019.
The second highest psf-price high in the week was for the resale of a 1,259 sq ft unit on the sixth floor of Botanic Gardens View. It changed hands for $3.68 million ($2,922 psf) on April 20. The previous record psf-price high at the condo was for a 1,615 sq ft unit, on the first floor, that fetched $4.07 million ($2,521 psf) on Aug 5, 2019. That unit is also the most expensive at the condo in terms of absolute sale price.
Botanic Gardens View is a 144-unit freehold development off Cluny Road in prime District 10. Completed in 1970, the condo is on Taman Serasi. It is close to Napier MRT Station on the Thomson East Coast Line. It is near amenities such as Ion Orchard, Far East Plaza and Lucky Plaza. It is also near Raffles Girls’ Secondary School and Botanic Gardens.
The development features units ranging from 1,259 to 1,755 sq ft. The condo’s prime central location within an exclusive
residential neighbourhood, as well as its freehold status, has contributed to its strong price growth over the last few years. The average price was $1,468 psf in April 2013, and has increased to $2,588 psf in April this year.
In comparison, nearby freehold properties such as Botanic Gardens Mansion and Nassim Mansion have recorded average prices of $2,048 and $3,035 psf, respectively.
On the other hand, the transaction that fetched the lowest psf-price within the condo during the week was for an 872 sq ft, two-bedroom unit on the seventh floor of The Atelier. It was sold for $2.16 million ($2,479 psf) on April 21.
The Atelier is located at Makeway Avenue in prime District 9. Launched in March 2021, the 120-unit freehold development is 54% sold at an average price of $2,683 psf, based on caveats lodged. It is near Newton MRT Station on the Downtown and North-South Lines. Nearby schools and amenities include Anglo-Chinese School (Junior), LaSalle College of the Arts (Winstedt Campus) and Newton Food Centre.
The property features a mix of one- to four-bedroom units ranging from 549 to 1,496 sq ft.