Can a 99-Year Leasehold Fetch $3,877 PSF? This Orchard Luxury Condo Hits a New Record High

Orchard Luxury Condo Breaks Record Again! UpperHouse Sets New Benchmark at $3,877 PSF

Singapore’s prime luxury residential market has registered another high-water mark. Located in prime District 10, UpperHouse at Orchard Boulevard topped the list of non-landed private residential projects achieving new record psf prices between 21 and 28 July.

On 22 July, a 2,056 sq ft, four-bedroom unit on the 32nd floor was sold by the developer for S$7.97 million, translating to a record price of: S$3,877 psf

This transaction not only breaks UpperHouse's own record, but also underscores the enduring price resilience of luxury properties in prime locations.

UpperHouse Sets Another New High in PSF Price

The previous record psf price at UpperHouse stood at S$3,848 psf.

That record was set on 19 March this year, when another four-bedroom unit of approximately 2,056 sq ft transacted for S$7.91 million.

Just four months later, the latest transaction eclipsed that benchmark with a sale price of S$7.97 million, pushing the project’s record psf price further to S$3,877 psf.

In other words, while both units are comparable in size, the latest purchase price is about S$60,000 higher, edging the project’s psf record closer to the S$3,900 mark.

UpperHouse: 301 Luxury Homes in Prime Orchard Boulevard

Situated at the junction of Orchard Boulevard and Grange Road in prime District 10, UpperHouse at Orchard Boulevard is a 99-year leasehold luxury development.

The development comprises a single residential tower housing a total of 301 units.

One- and two-bedroom apartments make up more than half of the project, with sizes ranging from 474 to 764 sq ft.

The development also offers three-bedroom units measuring around 1,012 sq ft, as well as spacious four-bedroom residences spanning 2,056 sq ft.

The unit that broke the project's record is precisely one of these generously sized 2,056 sq ft four-bedroom layouts.

Right Next to Orchard Boulevard MRT Station

Beyond its prestigious District 10 address, UpperHouse boasts exceptional connectivity.

The project sits right beside Orchard Boulevard MRT station, presenting a clear advantage for buyers who prioritise seamless commuting and city-centre convenience.

For families with school-going children, Crescent Girls' School and Gan Eng Seng School are both within a 2km radius.

From the Orchard Road shopping belt to public transport links and mature surrounding amenities, UpperHouse delivers every hallmark expected of prime core-region luxury real estate.

Launched Last Year at an Average of Around $3,350 PSF

UpperHouse officially launched last year. Over its launch weekend, the project achieved a take-up rate of approximately 54%, with an average transacted price of around: S$3,350 psf

Today, its latest transacted high stands at: S$3,877 psf

This represents an increase of around S$527 psf compared to the average launch weekend pricing.

According to caveat data lodged up to 4 August, 54 units remain unsold at UpperHouse. The project is expected to obtain its Temporary Occupation Permit (TOP) in 2029.

The Draycott Also Breaks Project Record

Alongside UpperHouse, another prime District 10 luxury development, The Draycott, also set a new psf benchmark during the same week.

On 28 July, a 2,637 sq ft, three-bedroom unit on the 27th floor changed hands for S$7.18 million.

The transaction worked out to: S$2,723 psf

This marks a new all-time high psf price for The Draycott. Remarkably, its previous record had been established just over a month earlier.

On 19 June this year, another 2,637 sq ft three-bedroom unit was sold for S$7.10 million, setting a benchmark at: S$2,692 psf

Barely a month later, that record was eclipsed once more. The latest unit commanded about S$80,000 more in quantum, lifting the psf record to S$2,723 psf.

Why Does a 1980s Luxury Condo Keep Hitting New Highs?

The Draycott is one of District 10’s most distinctive freehold luxury developments. Completed back in 1980, the development has a history spanning over 40 years. Its architectural silhouette is instantly recognisable, anchored by a 34-storey tri-cylinder residential tower housing 132 units.

In addition, the development features a four-storey residential block offering two-bedroom units and maisonettes.

Despite its age, resale prices at The Draycott have continued to trend upwards in recent years.

10-Year Average Resale PSF Up by Over 30%

Historical data indicates that resale psf prices at The Draycott have followed a steady upward trajectory over the past decade.

In August 2016, the project’s 12-month rolling average resale price stood at approximately: S$1,719 psf

By August 2026, this figure had risen to around: S$2,304 psf

In other words, The Draycott’s one-year average resale psf price has surged by more than 30% over the past 10 years.

The latest transaction of S$2,723 psf pushes the project’s historical benchmark even higher.

Both New and Heritage Condos Hit Records: District 10 Value Stands Resolute

Notably, the two developments setting price records this round represent two completely different luxury segments.

UpperHouse at Orchard Boulevard represents the new generation of 99-year leasehold luxury homes, boasting brand-new facilities, contemporary architecture, and doorstep access to Orchard Boulevard MRT.

The Draycott, on the other hand, is a freehold classic completed in 1980. Despite being over 40 years old, it continues to reset resale price records in the secondary market.

One is a new launch while the other is an established freehold classic, yet both are situated in prestigious District 10 and both recently achieved fresh all-time high psf prices.

From UpperHouse's latest milestone of S$3,877 psf to The Draycott’s S$2,723 psf, it is clear that well-located prime residential properties continue to draw affluent buyers, regardless of tenure, age, or product positioning.

For buyers keeping a close eye on Singapore's luxury property market, beyond monitoring new launch prices, the key trends to watch moving forward will be how price differentials evolve among prime developments in tightly held traditional enclaves, and whether new pricing benchmarks will continue to be set.