One Pearl Bank $2959 psf hits new high
One Pearl Bank $2959 psf hits new high. The one-bedroom unit at One Pearl Bank in District 3’s Outram neighborhood sold for the highest price per square foot between July 12 and July 24. On July 13, developer CapitaLand sold the 99-year leasehold apartment, which is 560 square feet in size and situated on the 36th floor, for $1.66 million, or $2,959 per square foot.
Two 39-story residential towers make up One Pearl Bank, and they are connected at the roofs by sky bridges. There are 774 total units, ranging in size from 430 to 2,800 square feet, with a combination of one-, two-, three-, and four-bedroom options. One Pearl Bank, which is expected to be finished in 2023, is three minutes away from Outram Park MRT Station, an interchange for the East-West, NorthEast, and Thomson-East Coast Lines, by way of a covered walkway. The Singapore General Hospital Campus, which is located in the Outram area, is also conveniently accessible to the condo.
Since the project’s debut in July 2019, 40% of the apartments at One Pearl Bank have been sold to date, with an average price per square foot of $2,424. The project involves the redevelopment of 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 to buy it all at once.
Peak Residence, which is a building along Thomson Road in District 11’s Novena neighborhood, is another development that saw a new psf-price high. On July 24, developer Tuan Sing Holdings sold a one-bedroom with 560 square feet for $1.61 million ($2,872 per square foot). The sold apartment is on the fifth floor. Three low-rise blocks make up the freehold property known as Peak Residence, which has 90 flats total. There are a variety of one- to four-bedroom units available, ranging in size from 528 square feet to 1,389 square feet.
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