Luxury Property Market Sees Mixed Fortunes: Record Highs for Some, New Lows for Others

Fourth Avenue Residences Sets New Record High at $2,796 psf

Fourth Avenue Residences, a prime District 10 private residential project in Singapore, has reached a new record high. On 22 August, a 1,109 sq ft, three-bedroom unit changed hands for $3.1 million, translating to $2,796 psf and marking a new benchmark high for the condominium.

The previous psf high at Fourth Avenue Residences was set in May 2023, when a 689 sq ft, two-bedroom unit was sold for $1.9 million, or $2,758 psf.

In terms of absolute price, the development's most expensive transaction to date was for a 1,485 sq ft, four-bedroom apartment, which fetched approximately $3.94 million ($2,651 psf) in October 2021.

Project Background and Market Trends

Fourth Avenue Residences is a 476-unit, 99-year leasehold condominium offering one- to four-bedroom units with sizes ranging from 474 to 1,496 sq ft. Located along Fourth Avenue off Bukit Timah Road, it sits right next to Sixth Avenue MRT station on the Downtown Line and is surrounded by top schools, including Hwa Chong Institution, Nanyang Primary School, and Methodist Girls' School.

Completed in 2022, the development has logged 24 resale transactions to date, six of which were recorded last year at an average of around $2,470 psf. Resale activity has picked up this year with 18 transactions concluded, lifting the average price to $2,580 psf.

Orchard Sophia Hits All-Time Low

Over the same period, Orchard Sophia, a freehold condominium in District 9, fell to a new record low. On 26 August, a 646 sq ft, two-bedroom unit transacted at around $1.72 million, or $2,671 psf, dipping below its previous low of $2,679 psf set on 21 August.

Launched in 2023, the 78-unit Orchard Sophia comprises two five-storey residential blocks along Sophia Road, featuring one- to two-bedroom units, as well as a limited collection of three-bedroom and three-bedroom dual-key units. The project is slated for completion in 2027.

Market data indicates that the project's average transaction price has softened since its launch. In 2023, 31 transactions were logged at an average of roughly $2,819 psf, while 18 transactions have been recorded so far in 2025 at an average of about $2,797 psf.

Market Observations

Recent figures highlight a divergence across different projects. Developments in established, highly sought-after locations like Fourth Avenue Residences and Parvis continue to command strong buyer interest and notch fresh price highs. Conversely, newly launched boutique developments such as Orchard Sophia have seen price consolidations amid slower buying momentum.

This underscores that factors such as location, surrounding amenities, and buyer demographics play a crucial role in shaping price movements and broader market performance across developments.