One Pearl Bank $2959 psf hits new high
One Pearl Bank $2959 psf hits new high. Between July 12 and July 24, the one-bedroom apartment at One Pearl Bank in District 3’s Outram district sold for the highest price per square foot. The 99-year leasehold flat, which is 560 square feet in size and located on the 36th floor, was sold by developer CapitaLand on July 13 for $1.66 million, or $2,959 per square foot.
One Pearl Bank is made up of two 39-story residential towers that are connected at the roofs by sky bridges. There are 774 total units, with options for one, two, three, and four bedrooms, with sizes ranging from 430 to 2,800 square feet. A covered walkway connects One Pearl Bank, which is scheduled to be completed in 2023, with Outram Park MRT Station, an interchange for the East-West, NorthEast, and Thomson-East Coast Lines, in three minutes. The condo is also easily reachable from the Singapore General Hospital Campus, which is situated in the Outram neighborhood.
At One Pearl Bank, 40% of the units have been sold since the project’s launch in July 2019, with an average price per square foot of $2,424. The project involves the renovation of the former Pearl Bank Apartments, which was considered Singapore’s first high-rise residential building when it was completed in 1976. CapitaLand purchased it all at once for $728 million in February 2018.
Another property that saw a new psf-price high is Peak Residence, a building along Thomson Road in District 11’s Novena district. A one-bedroom unit with 560 square feet was sold by developer Tuan Sing Holdings for $1.61 million on July 24 ($2,872 per square foot). The unit that was sold is on the fifth level. The freehold property known as Peak Residence is composed of three low-rise buildings and includes a total of 90 flats. There are numerous one- to four-bedroom apartments with sizes ranging from 528 square feet to 1,389 square feet available.
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