Updated September 2026. This is a dated transaction note; one sale does not establish a market trend.
Begin with the underlying caveat
The headline S$6,593 psf Park Nova sale should be checked against the transaction date, unit area, floor, price and caveat record before it is used as evidence. URA's private residential data is the current official starting point, while recognising that caveats do not cover every transaction.
Ultra-luxury homes are highly heterogeneous
At this end of the market, view, floor plate, ceiling height, private facilities, fit-out, developer inventory and buyer timing can materially affect price. A single high-psf unit is not interchangeable with the project's median and should not be projected across the wider Core Central Region.
Regulatory costs shape the buyer pool
ABSD liability depends on buyer profile and property count at acquisition. Rates and remission conditions can change; consult current IRAS guidance and qualified legal and tax advisers.
Read the observation in context
- Compare like-sized units within the same project.
- Separate developer sales from resales.
- Review transaction volume alongside price.
- Use total quantum as well as psf.
- Do not describe firmness without a stated period and comparison set.
The sale may be notable, but it cannot by itself prove market resilience, liquidity or future appreciation.