On April 8 2025, boutique freehold development Jervois Prive in prime District 10 smashed its previous price ceiling with the sale of a 4-bedroom unit at a record $3,313 psf. The 1,464 sq ft apartment fetched $4.85 million, surpassing the previous high of $3,229 psf set in July 2023. Notably, this also marked the most expensive unit ever transacted at Jervois Prive in absolute price.
The buyer of this top-floor unit wasn’t just paying for square footage—they were likely drawn by the rarity of owning a larger-format, freehold property nestled within the quiet prestige of Jervois Road, a subzone of the exclusive Chatsworth-Bishopsgate GCB area.
But beyond the headline number lies a broader trend that’s been brewing under the surface—one that’s challenging the conventional wisdom that only large-scale projects deliver price performance. Boutique developments are proving that their small size can pack a serious price punch.
Boutique Projects Are Setting the Pace
Jervois Prive isn’t alone. Over the past quarter, other boutique condos have also been making waves with their own record-setting transactions. In District 15, Ardor Residence hit a new high of $2,510 psf on 24 April 2025, when a 1,518 sq ft 4-bedroom unit sold for $3.81 million. And earlier in February, the 72-unit Hill House in District 9 saw a 2-bedder go for $3,398 psf, just shy of Jervois Prive’s benchmark.
What’s noteworthy is not just the PSF figures themselves, but what they suggest about shifting buyer preferences in a high-interest-rate environment.
While mass-market buyers continue to pursue affordability and quantum play, a niche group of high-income, lifestyle-driven homeowners are gravitating toward exclusivity, location, and privacy. Boutique condos deliver on these fronts—often situated in mature, central neighbourhoods, with freehold tenure and a curated unit mix that avoids overcrowding.
Jervois Prive: A Case in Point
Completed in 2023 with only 43 units, Jervois Prive embodies the characteristics that appeal to this discerning segment:
- Freehold tenure in District 10, close to Tanglin, Orchard, and River Valley
- Low-density living within a single 5-storey block
- High-spec units ranging from 549 to 1,464 sq ft, catering to both singles and families
- A comprehensive suite of facilities: 25m lap pool, gym, BBQ pavilion and more
The record-breaking unit sold in April 2025 was also the first transaction at the development this year—an indicator that while volume may be thin, value remains resilient. In fact, in all of 2024, only two units were sold, both at above $3,000 psf, reflecting a consistently strong price floor despite the broader market cooling.
Comparing Boutique Peers: Ardor Residence and Hill House
Ardor Residence
This 35-unit freehold project along Haig Road in District 15 is another boutique contender riding the same wave. Developed by Nanshan Group Singapore and slated for completion in 2026, it recently set its own price peak at $2,510 psf. What’s interesting here is that it’s doing so without the sheer scale of larger neighbours like Tembusu Grand or Emerald of Katong, both of which are commanding similar or higher average PSF—but in much bigger, busier developments.
Despite being just 28.6% sold as of early May, Ardor Residence has transacted mainly 3- and 4r-bedders, with an average of $2,431 psf—showing there’s appetite for boutique-style family living in District 15.
Hill House
Over in District 9, Hill House has been gradually climbing toward the $3,400 psf threshold. As a 999-year leasehold project perched on Institution Hill, it benefits from being just minutes away from Orchard and River Valley, while offering a mix of compact 1- to 3-bedders in a 72-unit configuration. Its latest record of $3,398 psf for a 452 sq ft two-bedroom unit underscores just how much buyers are willing to pay for prime location, prestige, and low unit density.
The average price at Hill House since launch in November 2022 is $3,152 psf, which puts it firmly in the luxury compact tier. Despite smaller unit sizes, the project has maintained strong pricing traction—proof that even sub-500 sq ft units can command serious premiums when the package is right.
Why Are Boutique Condos Seeing Record Highs?
A few key market dynamics explain this trend:
1. Scarcity and Exclusivity
Smaller projects in prime locations offer a sense of exclusivity that mega-developments simply can’t replicate. In high-end enclaves like Jervois, Tanglin, and Mount Sophia, land is scarce, and new boutique launches are rare.
2. Low Supply, High Stickiness
Boutique condo owners tend to hold long-term, reducing available stock. This tight supply base creates pricing resilience and supports premium resale values when transactions do occur.
3. Freehold Tenure Still Matters
While many new launches are on 99-year leases, boutique developments like Jervois Prive, Ardor Residence, and Hill House offer freehold or 999-year tenure—a strong draw for legacy buyers and those prioritising wealth preservation.
4. Smaller Community, Better Privacy
In the post-pandemic era, many affluent buyers prefer low-density living, and are willing to trade expansive facilities for peace, quiet, and privacy.
Looking Ahead: Is This a Boutique Boom or Blip?
The performance of projects like Jervois Prive signals that boutique developments—particularly those in Core Central Region (CCR) or fringe city-fringe enclaves—continue to command both emotional and financial value.
While overall transaction volumes may remain muted in 2025 due to macroeconomic headwinds, price resilience in boutique projects is likely to persist. Their value proposition isn’t just about square footage—it’s about identity, longevity, and lifestyle.
As more buyers seek to differentiate their property portfolio in an increasingly saturated market, we can expect boutique condos to continue setting the pace, not just breaking price records—but redefining what true luxury means in Singapore’s urban housing landscape.
If you’re exploring the boutique segment for your next home or investment, our team is here to help you navigate the market with clarity and insight. Whether it’s understanding the appeal of developments like Jervois Prive or identifying upcoming opportunities with similar potential, our consultants are just a click away. Contact our dedicated sales consultants here.
