Summary for Savvy Investors
If you’ve been keeping an eye on high-end real estate in Singapore, you’ll love the latest record-setting deal.
New Price Benchmark at Park Nova
In a impressive move, the largest penthouse at Park Nova has just been sold at $38.888 million, translating to a strikingly premium $6,593 psf.
The Urban Redevelopment Authority’s Realis database records this major sale on Jan 21. This sealed deal achieves Park Nova’s highest psf-rate and absolute price to date.
Historic Comparison & Top Local Records
Previously, a 4,499 sq ft penthouse at Park Nova sold in May 2021 for $26.026 million (or $5,784 psf), setting a benchmark that has just been outdone.
Notably, the $6,593 psf price tag is second only to a unit at The Marq on Paterson Hill, which sold in 2011 for $6,650 psf. Even so, Park Nova’s latest sale cements its standing in the highest tiers of local high-end condos.
Potential Links to $3 Billion Case
Market sources suggest this penthouse could be tied to the $3 billion money laundering case, as it was reported to have sold for $34.438 million in 2021, before resurfacing on the market. Regardless, official records now confirm the new $6,593 psf price.
A Trio of Upscale Transactions
It comes on the heels of another four-bedroom unit sold on Dec 27, 2024, measuring 2,896 sq ft, for $15.99 million ($5,522 psf).
| Date | Unit Size (sq ft) | Price | PSF |
|---|---|---|---|
| Jan 21, 2025 | 5,899 | $38.888 million | $6,593 |
| Jan 17, 2025 | 2,906 | $16.59 million | $5,708 |
| Dec 27, 2024 | 2,896 | $15.99 million | $5,522 |
Why Park Nova Continues to Attract Buyers
Nestled at the junction of Orchard Boulevard and Tomlinson Road in District 10, Park Nova’s freehold status and coveted address stand out. After obtaining TOP in November, the 54-unit project has lured property enthusiasts with its blend of convenience and exclusivity.
For those living locally, it’s a short stroll to Orchard’s shopping hub, from iconic malls like ION Orchard to luxury boutiques.
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Concluding Thoughts for High-Net-Worth Collectors
These recurring premium deals at Park Nova signal unwavering faith in Singapore’s top-tier property segment. Clearly, such eye-catching prices hint that this segment of the market thrives on its unique appeal and enduring asset value.