Introduction

In the realm of luxury condominiums, Kassia at Flora Drive stands as a pinnacle of opulence and exclusivity. The recent transaction of a 2,131 sq ft, three-bedroom apartment on November 17, achieving a remarkable $2,909 per square foot (psf), has catapulted Leedon Residence to the zenith of property value in Singapore. This article delves into the intricacies of this transaction, exploring the factors that contributed to its unprecedented success and the broader context of high-value real estate in the region.

Leedon Residence: A Jewel in District 10

Unveiling the Crown Jewel

Leedon Residence, nestled along Leedon Heights in prime District 10, is a freehold development that redefines luxury living. Boasting 381 units across 12 residential blocks, this architectural marvel completed in 2015 offers a mix of two- to five-bedroom units, ranging from 1,044 to 4,704 sq ft. Additionally, the development features exclusive “garden suites” on the first floor and lavish penthouses, adding an extra layer of sophistication.

The Novelties of November

The recent transaction on November 17 witnessed the sale of a 2,131 sq ft apartment for an astounding $6.2 million, marking a historic high for Leedon Residence at $2,909 psf. Notably, the seller, who originally acquired the eighth-floor unit from the developer in October 2012 for $5.25 million ($2,463 psf), reaped a substantial gross profit of approximately $952,000. This unprecedented achievement surpasses the previous psf-price high of $2,776, set during a resale on February 14 for a 2,648 sq ft apartment fetching $7.35 million.

Beyond Leedon: Exploring Other Highs in District 10

Botanika’s Ascent

While Leedon Residence takes the spotlight, another noteworthy development in District 10 has made waves in the luxury real estate scene. Botanika, a boutique condo on Holland Road completed in 2014, achieved a new psf-price high on November 16. A four-bedroom unit measuring 2,906 sq ft fetched an impressive $7.6 million, translating to $2,615 psf. The seller, who initially purchased the unit for $6.5 million in October 2021, realized a significant gross profit of $1.1 million, marking a remarkable feat within three months of the previous record set on August 28.

Gilstead Two: A Towering Triumph

Gilstead Two, a freehold condo on Gilstead Road in District 11, entered the fray of high-value transactions with the sale of a 904 sq ft unit on the 25th floor for $2.27 million, equivalent to $2,508 psf, on November 16. This achievement surpassed the previous psf-price high set in April 2012, underscoring the enduring appeal and value appreciation of this development.

The Future Landscape of Luxury Real Estate

As we reflect on these remarkable transactions, it becomes evident that the landscape of luxury real estate in Singapore, particularly in Districts 10 and 11, is experiencing a dynamic transformation. The allure of freehold developments, coupled with strategic location and meticulous design, continues to draw discerning buyers seeking exclusivity and prestige.

Conclusion

In the competitive realm of luxury living, Leedon Residence, Botanika, and Gilstead Two have emerged as beacons of sophistication and investment potential. The recent transactions, marked by unprecedented psf prices, signify not only the desirability of these developments but also the resilience and growth of the high-end real estate market in Singapore. As we gaze into the future, these landmarks beckon to those with a discerning taste for luxury and a keen eye for investment opportunities.