Analysis of Luxury Property Sales in the Final Week of July: Marked Price Divergence

The luxury property market in Orchard is back in the spotlight!

During the week of 25 July to 1 August, freehold condominium Orchard Sophia reached a new all-time high when the developer sold a 581 sq ft, two-bedroom unit on 29 July for $2.02 million ($3,475 psf). This smashed the previous record of $3,027 psf set in April this year.

Located in the prime District 9 enclave of Sophia Road, Orchard Sophia comprises just 78 units, offering one- and two-bedroom layouts alongside a select number of three-bedroom and three-bedroom dual-key units. It is slated for completion in 2027. Since its launch in August 2023, its average selling price has climbed steadily from $2,819 psf to $3,008 psf this year.

Meanwhile, freehold condominium The Belvedere along Meyer Road in the East Coast also set a new record on 28 July. A 1,367 sq ft, three-bedroom unit changed hands for $3.66 million ($2,677 psf), edging past the previous benchmark of $2,634 psf set last month. Completed in 2007, The Belvedere enjoys excellent connectivity, situated right next to Katong Park MRT Station on the Thomson–East Coast Line.

However, the other end of the market presented a stark contrast. Freehold condominium Coralis recorded an all-time low psf price on 29 July, when a 2,668 sq ft, three-bedroom unit was sold for $3.5 million ($1,311 psf)—falling below its previous record low of $1,340 psf set in 2011. Situated along Joo Chiat Road in Marine Parade, Coralis was completed in 2013, with other transactions this year hovering between $2,181 and $2,230 psf.

Recent transaction data highlights the growing divergence in Singapore’s luxury residential market: while rare and sought-after developments in prime core areas continue to command price premiums, select larger units and projects with less competitive attributes may face price correction pressures. For discerning buyers, this dynamic landscape presents both risks and opportunities.