Third most expensive apartment sells in May

A condominium sold for $34.4m in May, the third most expensive since 1995.

The priciest apartment sold last month was a 548 sqm 20th floor apartment at Park Nova transacted for S$34.4 million or S$5,838 psf.

According to an analysis released by OrangeTee, this is the third priciest new condominium purchase based on URA caveat records from 1995.

The priciest unit was a 1,261 sqm Le Nouvel Ardmore sold for S$51 million in 2015; whilst a 717 sqm Twentyone Angullia Park condominium transacted for S$42.9 million in 2013 came in second.

The Park Nova apartment is also the third-highest price by per sq foot basis for a new condominium at S$5,838 psf, ranked behind two units at The Marq on Paterson Hill sold for S$6,650 psf and S$6,215 psf in 2011.

Based on URA Realis data, the proportion of lower quantum units below S$1.5 million rose from 41.1% in April to 46.4% in May 2021 as more mass market and city fringe new homes were sold last month.

The proportion of new homes sold for at least $3 million continued to rise from 5.5% in March, to 6.6% in April and further to 7.7% in May.

Ten units were sold for at least S$10 million, the highest monthly sales since March 2019. Nine of these units were at Park Nova and one unit from Meyerhouse.