32 Gilstead has set a new benchmark in luxury real estate, achieving a peak price of $3,588 per square foot, eclipsing its prior high of $3,579 psf. This significant increase in price reflects the growing demand for premium properties in Singapore’s competitive real estate market. The development, located in the coveted District 11, has been attracting attention from affluent buyers eager to invest in high-end living spaces.
A notable transaction contributing to this record price was the sale of a four-bedroom unit measuring 4,209 square feet, which fetched an impressive $15.1 million on May 21. This sale not only exemplifies the desirability of the property but also underscores the potential for substantial returns on investment in the area. With only 14 exclusive four-bedroom units available across a five-storey block, the limited supply has heightened the appeal of 32 Gilstead, making it a sought-after address for discerning homeowners.
Since its launch in April of the previous year, 32 Gilstead has steadily gained traction in the market, with a total of ten units sold thus far. The average price per square foot for these transactions stands at $3,476, indicating a robust demand for luxury properties in the vicinity. Buyers are drawn to the combination of spacious layouts and high-quality finishes that the development promises. The four-bedroom units are particularly appealing to families looking to settle in a prestigious environment while enjoying modern conveniences.
The strategic location of 32 Gilstead further enhances its attractiveness. Situated near the Newton MRT Station, residents can easily access various parts of the city, making it appealing to both local and expatriate buyers. The proximity to essential amenities, including shopping centers, gourmet dining options, and reputable schools, adds to the allure of living in this upscale neighborhood.
As a result, the property is poised to benefit from the ongoing urban development in the surrounding area, which is likely to further increase its value over time. The completion of 32 Gilstead is anticipated in 2027, allowing prospective buyers to plan their investments accordingly. This timeline also gives buyers the opportunity to secure their units in a rising market.
With luxury real estate continuing to thrive in Singapore, 32 Gilstead’s record-setting price per square foot is a testament to the evolving landscape of high-end living. The development not only meets the demands of the luxury market but also sets a standard for future projects.
As the market continues to adapt to changing buyer preferences and economic conditions, 32 Gilstead stands as a symbol of luxury and exclusivity. Its record-breaking achievements may inspire other developments to elevate their offerings, further pushing the boundaries of what defines premium real estate in Singapore. The buzz surrounding 32 Gilstead is indicative of a thriving luxury market, reflecting both present desirability and future potential.
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News Source: Edgeprop
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