MaximiseReturns with PropertyWealthPlanningBuySellRentInvestCommercialMust-reads27 Feb, 2022 3:00 AMLuxury property sales surge to 11-year high, with most transactions in the prime districts27 Feb, 2022 3:00 AMNew private home sales hit 10-year high in Feb 202227 Feb, 2022 9:00 AMNew private home sales hit 10-year high in Feb 2021 APARTMENT* A luxurious two-bedroom apartment in The Esta has claimed the top spot of private condos that achieved a new psf-price high between Feb 21-28. The freehold development reached a new price peak of $2,377 psf after a 1,001 sq ft unit sold for $2.38 million on Feb 26. The sellers had bought the unit for about $1.83 million or $1,833 psf in March 2021, making a profit of approximately $545,000.* This latest transaction beats the previous record price achieved at the development, when in January 2020 a 1,346 sq ft, three-bedroom unit on the 13th floor changed hands for around $3.2 million ($2,317 psf).* Over the past three years, the average resale price for condos at The Esta has increased steadily. In 2020, the project recorded 10 transactions at an average psf-price of $2,012. The following year, the average price climbed to $2,156 across nine resale transactions. Last year, another nine units were resold at an average price of $2,248 psf, reflecting an increase of 11.7% in average resale prices since 2020.* By absolute price, the most expensive unit sold at The Esta was a 3,477 sq ft, five-bedroom apartment on the 21st floor, which changed hands for $6.25 million, or $1,798 psf, in October 2020.* The Esta is a freehold development featuring 400 units spread over five residential blocks on Amber Gardens. Completed in 2008, this District 15 condo offers two- to four-bedroom apartments, ranging from 1,001 sq ft to 1,711 sq ft, as well as penthouses spanning 2,368 sq ft to 3,477 sq ft. It is within walking distance of Tanjong Katong MRT Station on the Thomson-East Coast Line and is also close to popular lifestyle hubs such as Katong Shopping Centre and Katong V.
