Summary for Savvy Investors
For anyone eager to invest in prime Orchard property, this recent sale highlights the enduring appeal of ultra-luxury residences.
Park Nova Penthouse Hits Near-Record-High PSF
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.
According to the URA Realis database, the sale was logged on Jan 21. That makes it the highest-priced unit at Park Nova so far, both in total quantum and psf terms.
Stacking Up to Other Luxury Deals
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.
For context, The Marq on Paterson Hill still holds the highest rung at $6,650 psf, achieved in 2011 by a 3,089 sq ft four-bedroom unit. Even so, Park Nova’s latest sale solidifies its standing in the upper echelon of local high-end condos.
Potential Links to $3 Billion Case
Market sources suggest this penthouse might be associated 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. Either way, the caveat lodged on Jan 21 stands as the official figure.
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 |
|---|---|---|---|
| January 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 central location stand out. Following its Temporary Occupation Permit (TOP) last November, the development has remained in the spotlight among investors.
Overseas buyers might appreciate the area’s global renown, high connectivity, and the development’s trusted reputation, all contributing to a solid track record of returns.
Jansen House Prices
Concluding Thoughts for High-Net-Worth Collectors
Park Nova’s continuing series of blockbuster transactions showcases how Singapore’s prime market remains robust even amidst global uncertainties. For those watching for the next big opportunity, it’s clear that buyers remain engaged.