Two Park Nova units sold in January at near-record prices, one penthouse at S$6,593 psf
The two freehold units are being bought by a foreigner and a permanent resident, URA’s Realis database indicates
TWO recent transactions at Hong Kong developer Shun Tak’s Park Nova project in Singapore have surfaced at near-record-high levels, caveats data showed. One unit sold at S$6,593 per square foot (psf), the second-highest psf price ever recorded in the market.
The two Park Nova sales, both done in January 2025, stood out amid the slump that has permeated the prime residential market since sharp hikes in stamp duty in April 2023 kept wealthy foreign investors at bay.
The data from the Urban Redevelopment Authority’s (URA) Realis database indicates that the two freehold units were bought by a foreigner and a permanent resident (PR). Both deals were new sale transactions – that is, sold by the developer.
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