Summary for Savvy Investors
For anyone eager to own a piece of prime Orchard property, this recent sale offers fresh insights into ultra-luxury residences.
Stunning Penthouse Achieves $6,593 PSF
In a remarkable move, the largest penthouse at Park Nova has recently changed hands for $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 completed deal achieves Park Nova’s highest psf-rate and absolute price to date.
Measuring Against Singapore’s Highest PSF Sales
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 valuation 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 pantheon of local high-end condos.
Money Laundering Case Ties
Rumors abound that the unit is part of a portfolio linked to a high-profile money laundering investigation, initially transacted at $34.438 million ($5,838 psf). Either way, the caveat lodged on Jan 21 stands as the official figure.
Other Recent Deals at Park Nova
The developer also moved a four-bedder on Dec 27, 2024, at $15.99 million, working out to roughly $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 |
Park Nova’s Appeal and Unique Features
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.
For those within Singapore, it’s a quick walk to Orchard’s shopping hub, from iconic malls like ION Orchard to upscale shops.
ELTA Condo Number of Units
Concluding Thoughts for Discerning Buyers
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.