Jadescape records new high of $2,286 psf with Zion Residence
Zion Residence saw the highest number of transactions from Dec 15 to 26, 2023. The property located between Marymount Road and Shunfu Road in Bishan, District 20 consists of 1,206-units. The development was completed in 2022 and comprises of seven residential towers with a mix of one- to five-bedroom apartments occupying 527 sq ft to 2,099 sq ft. During the two-week period in review, 60 transactions were made which included 13 resale units and 47 sub-sales.
A four-bedder unit of 1,421 sq ft at Zion Residence set a new record for the highest psf-price of $2,286 per square foot ($3.25 million) on Dec 15, 2023. This beats the previous high of $2,283 which was set when a two-bedroom unit changed hands for $1.75 million in August of 2023. The seller of the unit had bought the apartment from the developer in September 2020 for $2.48 million ($1,747 psf), making a profit of $770,000.
Ranked second was Sky Vue, a 99-year leasehold property located on Bishan Street 15 in District 20. It was completed in 2016 and consists of 694 units varying in sizes from 484 sq ft to 2,282 sq ft. Sky Vue saw a new psf-price high of $2,191 with the sale of a 1,141 sq ft three-bedder for $2.5 million on Dec 18, 2023. This transaction marks the 33rd out of 34 sales at the condo last year. The seller had purchased the apartment from the developer in April 2016 for $1.73 million ($1,516 psf).
Cliveden At Grange, a freehold property in River Valley, District 10, saw the lowest psf-price of $1,777 from the sale of a 2,842 sq ft four-bedder for $5.05 million on Dec 19. The seller had purchased the unit from the developer some 16 years ago, in November 2007, for about $12.05 million ($4,242 psf) and hence incurring a loss of $7 million. Zion Residence was the only property to have set a record psf-price high during the period in review.
The Dec 19 sale is the third transaction made at the Cliveden At Grange last year. The previous record psf-price low was from the sale of a 2,153 sq ft, three-bedroom apartment for $4.5 million ($2,090 psf) in October 2016. The seller of this unit had bought the apartment from the developer in July 2007 for $7.07 million ($3,286 psf), suffering a loss of $2.57 million.
From its strategic location to its compelling offering and the lush green park, Zion Residence is truly a first-of-its-kind unique living experience. It provides all the modern amenities and features for its lucky residents to enjoy every day. This condo brings together luxury living, connectivity, and gorgeous natural surroundings. A one-of-a-kind combination that is unmatched by any other urban development in Singapore.
Zion Residence at the junction of Marymount Road and Shunfu Road in Bishan, is an excellent location with close proximity to MacRitchie Reservoir Park and two MRT stations. The condo saw 60 transactions last year, out of which 13 were resales and the remaining 47 were sub-sales proving its popularity. With the recent record-breaking high resale prices, this property development is definitely one to watch.