$2,286 psf is a new high for Jadescape

SINGAPORE – From December 15 to December 26, 2023, Jadescape near Tembusu Grand recorded the highest price per square foot of any unit. The December 15 sale of a 1,421-square-foot, four-bedroom home for $3.25 million set a new high price per square foot of $2,286. This is more than the previous peak of $2,283 per square foot, which was reached in August 2023 when a two-bedroom apartment sold for $1.75 million.

For $2.48 million ($1,747 psf), the developer sold the condo to the seller of the four-bedroom property in September 2020. This indicates that the vendor earned almost $770,000 in profit. Thirteen of the sixty transactions at the condo last year were resales, and the remaining forty-seven were subscales.

Located in Bishan, District 20, near Tembusu Grand Showflat Jadescape is a 99-year leasehold condominium near the intersection of Marymount Road and Shunfu Road. Completed in 2022, the 1,206-unit complex consists of seven residential towers. The apartments range in size from 527 square feet to 2,099 square feet, with one to five bedrooms.

After the property’s opening in September 2018, the developer sold every unit by September 2022, according to reservations filed with the URA.

The former Shunfu Ville estate, owned by the Housing and Urban Development Co., is being redeveloped as Jadescape. The MacRitchie Reservoir Park is not far from the condominium. The Marymount and Upper Thomson MRT Stations provide access to it.

Sky Vue, a different 99-year leasehold condo, ranked second on the list. On December 18, a 1,141-square-foot, three-bedroom property sold for $2.5 million, setting a new high of $2,191 per square foot. This is more than the previous record set on December 1, 2023, when a unit of a similar size sold for $2.48 million ($2,174 psf).

A 2,153 square foot, three-bedroom unit sold for $4.5 million ($2,090 psf), setting a previous record price per square foot at the building. That transaction happened in October 2016. The seller lost $2.57 million since they paid $7.07 million ($3,286 psf) for the apartment in July 2007 instead of the developer’s asking price.

The unit was sold for the third time last year on December 19. The first sale occurred in May, when a 2,842-square-foot, four-bedroom home was purchased for $8.1 million, or $2,850 per square foot. In November, a comparable-sized unit was sold for $9.8 million ($3,449 per square foot) in the second transaction.

Situated on Grange Road, Cliveden at Grange is a freehold condominium. There are 110 three- to five-bedroom apartments with 2,153 to 6,028 square feet.

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