Record S$14.543M Sale for 4-Room Condo at 32 Gilstead Road !
A New Benchmark in Singapore’s Property Market
In a significant milestone for Singapore’s real estate market, a four-room condominium unit at 32 Gilstead Road has been sold for a staggering S$14.543 million. This transaction sets a new record for the highest price per square foot (psf) in the city-state, making it a notable event in the property market.
The Property
Located in the prime district of 11, 32 Gilstead Road is a highly sought-after address known for its upscale living and proximity to various amenities. The condominium unit in question is part of a prestigious development that offers a range of luxurious facilities, including a swimming pool, gym, and 24-hour security.
The Sale
The sale of the 543-square-meter unit, which translates to approximately S$26,800 psf, is a testament to the strong demand for high-end properties in Singapore. This transaction marks a significant increase from the previous record of S$13.8 million for a similar unit in the same development, set in 2022.
Market Insights
The sale of this unit underscores the resilience of Singapore’s property market, which has continued to thrive despite global economic uncertainties. The demand for luxury properties remains strong, driven by a mix of local and foreign buyers seeking prime locations and high-end amenities.
Key Takeaways
- Record-Breaking Price: The sale of the unit at S$14.543 million sets a new benchmark for the highest price per square foot in Singapore.
- Prime Location: 32 Gilstead Road is situated in a prime district, offering residents access to a range of amenities and a high quality of life.
- Luxury Living: The condominium development provides a range of luxurious facilities, making it an attractive option for discerning buyers.
- Strong Demand: The transaction highlights the continued strong demand for high-end properties in Singapore, driven by both local and foreign buyers.
Conclusion
The sale of the 4-room condominium unit at 32 Gilstead Road for S$14.543 million is a significant milestone in Singapore’s property market. This transaction not only sets a new record for the highest price per square foot but also underscores the resilience and strength of the market. As the demand for luxury properties remains high, it will be interesting to see how this trend continues to shape the market in the future.
