One Pearl Bank $2959 psf hits new high
One Pearl Bank $2959 psf hits new high. The one-bedroom apartment at One Pearl Bank in District 3’s Outram neighborhood sold for the highest price per square foot between July 12 and July 24. Developer CapitaLand sold the 99-year leasehold apartment, which is 560 square feet in size and situated on the 36th floor, on July 13 for $1.66 million, or $2,959 per square foot.
Two 39-story residential towers that are connected at the roofs by sky bridges make up One Pearl Bank. There are 774 total units with sizes ranging from 430 to 2,800 square feet and possibilities for one, two, three, and four bedrooms. One Pearl Bank, which is expected to be finished in 2023, can be reached in three minutes via covered walkway from Outram Park MRT Station, an interchange for the East-West, NorthEast, and Thomson-East Coast Lines. The Singapore General Hospital Campus, which is located in the Outram district, is also conveniently close to the property.
Since the project’s debut in July 2019, 40% of the units at One Pearl Bank have been sold, with an average price per square foot of $2,424. The project entails remodeling the previous Pearl Bank Apartments, which, when it was finished in 1976, was regarded as Singapore’s first high-rise residential structure. In February 2018, CapitaLand paid $728 million for it all at once.
Peak Residence, a structure located along Thomson Road in District 11’s Novena neighborhood, is another asset that experienced a new psf-price high. On July 24, developer Tuan Sing Holdings sold a 560 square foot, one-bedroom apartment for $1.61 million ($2,872 per square foot). The sold apartment is located on the fifth floor. Three low-rise buildings make up the freehold property known as Peak Residence, which has a total of 90 apartments. Apartments ranging in size from 528 square feet to 1,389 square feet, with one to four bedrooms, are widely available.
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