8M Residences, a freehold condo in District 15, topped the list of private condos to hit a new psf-price peak in the week of Feb 1 to 7. The development achieved a new high of $2,384 psf when a two-bedroom unit on the 15th floor was sold for $1.54 million on Feb 3. This marks the first time a unit at 8M Residences has been sold for more than $2,300 psf, surpassing its previous peak of $2,261 psf set in April 2023 when a similar unit was sold for $1.46 million.8M Residences also recorded another transaction during the period in review that topped its previous record. On Feb 3, a one-bedroom unit on the 11th floor was sold for $1.2 million ($2,275 psf).The average price of units at 8M Residences has consistently risen over the last three years, based on a 12-month rolling average. From $2,028 psf in February 2022, the average price increased by 7.3% to $2,177 psf in February 2025. The development, completed in 2017, is a 20-storey residential tower with 68 units ranging from one to three bedrooms and four penthouses.8M Residences is within walking distance of EtonHouse International Pre-School, Katong Swimming Complex, and Katong Park MRT Station along the Thomson-East Coast Line.Meanwhile, the sale of a three-bedroom unit at Kovan Jewel, a freehold condo along Kovan Road in District 19, took second place on the list of condos that achieved a new psf-price high. A unit on the second floor was sold for $2.41 million on Feb 7, setting a new high of $2,236 psf. This surpasses the previous peak of $2,228 psf set last August when a similar unit on the fourth floor was sold for $2.4 million.Kovan Jewel, completed last year, is a boutique condo with 34 units ranging from one to three bedrooms and four penthouses. 17 units (50%) have been sold as of Feb 18 at an average price of $2,111 psf. The most expensive unit to change hands at the development was a four-bedroom penthouse sold for $3.5 million ($2,739 psf) in January this year.Completing the top three is Oleanas Residence, a freehold condo located along Kim Yam Road in District 9. A three-bedroom unit on the sixth floor was sold for $2.52 million on Feb 3, setting a new record of $2,207 psf at the condo. Previously, the highest transacted price at Oleanas Residence was $2,157 psf, from the sale of a three-bedroom unit in August 2022. The most expensive resale unit at the condo was sold for $3.3 million ($2,017 psf) in December 2022.Oleanas Residence, completed in 1999, has seen just four resale transactions in the last three years. The condo is within walking distance of two MRT Stations: Great World MRT Station on the Thomson-East Coast Line and Fort Canning MRT Station on the Downtown Line. It is also near educational institutes such as River Valley Primary School and Outram Secondary School.
Investing in a condominium in Singapore offers numerous benefits, one of which is the potential for impressive capital appreciation. This is largely due to Singapore’s favorable position as a leading business destination and its robust economy, which continuously fuels the demand for real estate. In the past years, the property market in Singapore has consistently shown an upward trend in prices, especially for condos located in prime areas. For investors who time their entry into the market wisely and hold onto their properties for the long run, they can enjoy considerable capital gains. To stay updated on the latest opportunities, investors can also keep an eye out for new condo launches on platforms like ScoreInTheBox.