The freehold condo 1919 has recently set a remarkable milestone in the real estate market, achieving a new price per square foot (psf) high of $2,555 during the week of June 20 to 27, 2024. This significant achievement was underscored by the sale of an 861 sq ft, two-bedroom plus study unit on June 24, which marked a pivotal moment as it became the first resale unit at 1919 to exceed the $2,500 psf threshold. The sale price of $2.2 million not only illustrates the unit’s premium appeal but also reflects the increasing desirability of the 1919 development among buyers in the luxury segment.
Prior to this recent success, the previous record for psf pricing at 1919 stood at $2,445 for an 818 sq ft unit sold in November 2023. The climb to the current high demonstrates a robust recovery and growing confidence in the luxury condo market, which has seen fluctuations in pricing over recent years.
The average resale price at 1919 is currently estimated at $2,290 psf, a significant recovery from a low point of $1,955 psf recorded in 2018. This rebound indicates not only a revitalization within the luxury property sector but also a shift in market dynamics favoring high-end developments like 1919.
The notable increase in psf pricing can be attributed to a combination of factors, including a resurgence in demand for luxury properties as economic conditions stabilize and consumer confidence returns. Buyers are increasingly drawn to developments that offer a blend of prime location, attractive amenities, and modern design, which 1919 provides in abundance.
As a freehold condominium, 1919 offers ownership benefits that further enhance its appeal in a competitive market, positioning it favorably against similar developments within the vicinity.
As the luxury condo market continues to evolve, the impressive performance of 1919 serves as a benchmark for other developments, setting expectations for future sales. The recent transactions at 1919 reflect not only the current state of the market but also the potential for continued growth as more buyers seek to invest in high-value properties.
Real estate analysts speculate that as long as the demand for luxury living remains strong, the upward trend in pricing at 1919 is likely to continue.
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Dover Residence is a newly launched condo development offering a range of one to four-bedroom units designed for modern living.
This project features contemporary aesthetics, functional layouts, and a host of amenities, including a swimming pool and fitness center.
Located near educational institutions, it is perfect for families and students.
For detailed Dover Residence Project Information, including the Dover Residence Floor Plan, Dover Residence Site Plan, and Dover Residence Pricing, visit the official website.
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News Source: Edgeprop
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