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Skywaters Residences shatters records with $47.34 million sale

Skywaters Residences shatters records with $47.34 million sale !! We featured Skywater Residences in our new launches condo web site too.

Skywaters Residences shatters records with $47.34 million sale : Record-breaking Sale

You won’t believe the latest milestone in Singapore’s real estate market – Skywaters Residences has set a new record with a unit fetching an astonishing S$47.34 million. This sale, breaking past S$6,100 per square foot, underscores the growing demand for high-end properties.

What factors are driving such premium prices, and what does this mean for future investments in 99-year leasehold properties? Let’s explore the dynamics behind this unprecedented transaction and its implications for the market.

Skywaters Residences Record Sale

Skywaters Residences has shattered records with a unit selling for S$47.34 million, marking a historic high for a 99-year leasehold property.

If you’re curious about what makes this sale so remarkable, it’s not just the hefty price tag. Imagine a property that combines luxury, location, and exclusivity, creating a perfect storm for record-breaking sales. Skywaters Residences has managed to capture this trifecta.

This sale reflects the growing demand for high-end properties in Singapore, even those with a 99-year leasehold. It’s an eye-opener for anyone following the real estate market, showing that exceptional properties can command exceptional prices.

Historic Psf Price Surge

Not only did this sale set a new benchmark, but it also highlighted a significant surge in psf prices that haven’t surpassed S$6,000 since October 2022.

You might find this surprising, but Skywaters Residences achieved an incredible S$6,100 psf, reflecting a historic rise in the market. This leap is particularly striking because it shows a growing confidence among buyers and a willingness to invest at premium prices.

While the record still belongs to The Marq on Paterson Hill at S$6,650 psf, Skywaters Residences’ achievement is a clear sign of market dynamism.

Skywaters Residences shatters records with a S$47.34 million sale

Current Real Estate Trends

The current real estate trends reveal a robust market with increasing condo resale prices and high transaction volumes, indicating strong buyer confidence. You’re witnessing a surge in condo resale prices, up 1.5% in April, with sales volumes hitting a 13-month high. This uptick suggests that buyers are optimistic about investing, likely driven by factors like limited supply and economic recovery.

Plus, the recent record-breaking sale at Skywaters Residences shows that high-end properties are particularly in demand. When condo prices and sales volumes rise together, it hints at a healthy, competitive market. Sellers benefit from higher prices, while buyers are keen to secure properties, often fearing they’ll miss out on future gains. It’s a good time to stay informed and consider your options. Do consider Freehold properties such as 32 Gilstead with its great location. While it is not as shiny a location as Skywaters Residences, it is in a much quieter part of Singapore and is close to good schools too.

Conclusion

You’ve seen how the Skywaters Residences sale shattered records, underscoring the sky-high demand for luxury real estate. This historic transaction, with its jaw-dropping price per square foot, is a confirmation of the allure of prime locations and exclusivity.

As real estate trends evolve, it’s clear that exceptional properties will continue to fetch exceptional prices. So, whether you’re buying or just curious, keep an eye on these high-end market moves – they’re shaping the future of real estate.

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