Stay calm when more luxury condos fetch above S$6,000 psf

Lofty premiums for fancy flats in ultra-prime areas will make headlines, but should have minimal impact on prices elsewhere

Leslie Yee

Published Mon, Mar 6, 2023 · 04:18 PM

Residential property

A PROFIT of S$3.46 million in just under three-and-a-half years is impressive.

The owner of a unit at the freehold luxury condominium Boulevard 88 along Orchard Boulevard achieved just that. It was bought for S$10.32 million or S$3,688 per square foot (psf) in July 2019, and sold for S$13.78 million or S$4,924 psf in December 2022.

Nonetheless, in recent years, price rises of apartments and condominiums in the Core Central Region (CCR) or prime districts have lagged that in the Rest of Central Region (RCR) or city fringe and Outside Central Region (OCR) or suburbs.