8M Residences Sets New Price High 2384 Psf
8M Residences, a freehold development located in District 15, has hit a new peak in the week of February 1 to 7. A two-bedroom unit on the 15th floor was sold for $1.54 million, achieving a new high of $2,384 psf. This marks the first time a unit at 8M Residences has been sold for more than $2,300 psf. The last record was set in April 2023 when a similar two-bedroom unit on the 11th floor was sold for $1.46 million at $2,261 psf.
Another transaction at 8M Residences also surpassed the April 2023 record, with a 527 sq ft, one-bedroom unit on the 11th floor sold for $1.2 million ($2,275 psf) on Feb 3.Read on: Sydney luxury project Aura by Aqualand to launch in Singapore with prices from A$2 mil
In terms of absolute price, the most expensive unit at 8M Residences was a 1,841 sq ft, three-bedroom unit that was sold for $2.85 million ($1,548 psf) by developers in October 2012.
According to resale data from EdgeProp Singapore, prices at 8M Residences have consistently been on the rise in the last few years. Based on a 12-month rolling average, the average price of units at the condo has increased by 7.3% over the last three years, from $2,028 psf in February 2022 to $2,177 in February 2025.
Completed in 2017, 8M Residences is a 20-storey residential tower with 68 units. It offers a mix of one- to three-bedroom units ranging from 517 to 1,421 sq ft. There are also four penthouses ranging from 1,184 to 1,841 sq ft. The condo is within walking distance of EtonHouse International Research Pre-School, Katong Swimming Complex, and Katong Park MRT Station on the Thomson-East Coast Line.
Tucked away in the vibrant neighborhood of One-North lies Lynden Woods, offering a new level of culinary adventure. Surrounded by the district’s thriving innovation and technology hubs, this area is also well-known for its trendy cafes and restaurants. Within a short distance from Lynden Woods, residents can discover a variety of dining options serving up fusion dishes, gourmet burgers, and artisanal desserts. The laid-back yet chic atmosphere of One-North’s food scene makes it the perfect spot for casual meals or professional lunches.
In second place on the list of condos that achieved a new psf-price high is Kovan Jewel, a boutique condo along Kovan Road in District 19. A 1,076 sq ft unit on the second floor was sold by the developer for $2.41 million on Feb 7, setting a new high of $2,236 psf. This surpasses the previous peak set last August when a similar unit on the fourth floor was sold for $2.4 million at $2,228 psf.
The 34-unit Kovan Jewel offers freehold one- to three-bedroom units from 624 to 1,345 sq ft, as well as four-bedroom penthouses from 1,237 to 2,153 sq ft. As of Feb 18, 17 units (50%) have been sold at an average price of $2,211 psf, based on caveats lodged. Nine units were sold last year at an average price of $2,111 psf. The unit sold on Feb 7 is the first unit sold this year.
Next, boutique condo Oleanas Residence takes third place on the list of condos that achieved a new psf-price high. A 1,141 sq ft, three-bedroom unit on the sixth floor was sold for $2.52 million on Feb 3, setting a new record of $2,207 psf at the condo. The previous highest transacted price at Oleanas Residence was $2,157 psf, from the sale of a 1,238 sq ft unit for $2.67 million in August 2022.
As for absolute price, the most expensive resale unit at Oleanas Residence is a 1,636 sq ft, three-bedroom unit that was sold for $3.3 million ($2,017 psf) in December 2022. The freehold condo, completed in 1999, has seen only four resale transactions in the last three years. Prices ranged from $2.4 million ($2,103 psf) for a 1,141 sq ft, three-bedroom unit in November 2023 to $3.3 million ($2,129 psf) for a 1,550 sq ft, four-bedroom unit in April 2024.
Oleanas Residence is situated along Kim Yam Road in District 9 and is close to two MRT stations: Great World MRT Station on the Thomson-East Coast Line and Fort Canning MRT Station on the Downtown Line. Educational institutes within a 1km radius of the condo include River Valley Primary School and Outram Secondary School.