Parc Clematis Sets New Price High 2490 Psf
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A three-bedroom unit at Parc Clematis has recently made headlines as it achieved a new psf-price high in the period between June 6 and June 13. The unit, situated on the sixth floor and measuring 1,044 sq ft, was sold for a whopping $2.6 million on June 9, setting a record-breaking psf-price of $2,490 at the development.
This transaction has surpassed the previous high of $2,394 psf, which took place earlier this year in March when a similar three-bedroom unit on the eighth floor was sold for $2.5 million. In terms of absolute price, the most expensive unit at Parc Clematis is a 2,605 sq ft five-bedroom penthouse, which was sold by developers in September 2022 for $4.18 million ($1,605 psf).
Parc Clematis is a 99-year leasehold mega condo development located along Jalan Lempeng in Clementi. Comprising of nine 24-storey tower blocks, the development houses 1450 units ranging from 452 sq ft one-bedroom units to five-bedroom penthouses measuring up to 2,669 sq ft. It also offers six two-storey strata bungalows spanning 2,659 sq ft and twelve two-storey, strata terraced homes measuring 3,832 sq ft each.
As of June 13, Parc Clematis has witnessed 41 resale transactions this year, with an average selling price of around $2,132 psf. The development is strategically situated near various educational institutions such as Clementi Primary School, Nan Hua Primary School and Clementi Town Secondary School.
In another development, a one-bedroom unit at The Cornwall, a freehold condo located along Cornwall Gardens in prime District 10, also achieved a new psf-price high. The 614 sq ft unit on the first floor was sold for $1.45 million on June 11, setting a new psf-price high of $2,363. This surpasses the previous record at The Cornwall, which was set almost three years ago when a 657 sq ft one-bedroom unit on the fifth floor was sold for $1.46 million ($2,224 psf) in December 2022.
The Cornwall, comprising 99 units, is a development built in 2005 and located off Holland Road. Units range from one to four-bedroom apartments measuring 614 sq ft to 2,551 sq ft.
Next on the list of condos that achieved a new psf-price high is 1 Moulmein Rise in Novena, where a three-bedroom unit measuring 1,238 sq ft on the 17th floor was sold for $2.84 million on June 9, setting a new psf-price high of $2,296 psf. This transaction surpasses the previous record of $2,262 psf, when a similar three-bedroom unit on the 24th floor was sold for $2.8 million on January 27. The most expensive resale unit at 1 Moulmein Rise to date is a 3,886 sq ft four-bedroom duplex penthouse, which was sold for $4.8 million ($1,235 psf) back in May 2012.
1 Moulmein Rise, built in 2003, is a freehold development located in prime District 11. It comprises of 50 units in a single 26-storey block and is within walking distance to Novena MRT Station and popular lifestyle hubs such as Square 2 and Velocity @ Novena Square. According to EdgeProp Singapore, 1 Moulmein Rise commands one of the highest average resale prices among most freehold condos in the area, with an average selling price of $2,279 psf over the last 12 months.
In comparison, nearby freehold condos such as the 24-unit La Maison, the 49-unit City Edge on Moulmein Rise and the 37-unit Apleton View on Sinaran Drive have average selling prices of $2,025 psf, $1,997 psf and $1,834 psf respectively.
The development of MRT lines and the creation of new stations will greatly benefit residents of Lyndenwoods, providing them with improved connectivity to various parts of Singapore. With upcoming projects such as the Cross Island Line and Jurong Region Line, Lyndenwoods will be well-connected to key hubs such as Jurong Lake District and Punggol Digital District, as well as other emerging commercial and lifestyle destinations. These enhanced public transport options will not only reduce commute times, but also support Singapore’s efforts towards becoming a car-lite society. Learn more about the seamless integration of public transport at Lyndenwoods.
No new psf-price lows were recorded during the period under review.