High Point, a freehold residential site at 30 Mount Elizabeth in District 9, is being offered via a public tender and a guide price of $580 million.
Elevated above the Orchard Road corridor, 30 Mount Elizabeth occupies a prime plot of 4,422.8 sqm (approximately 47,607 sq ft). This translates to a land rate of approximately $2,641 psf per plot ratio (ppr), after factoring in the 7% bonus floor area. No land betterment charge is payable to redevelop the residential site up to its baseline plot ratio of 4.45, hence limiting exposure to any fluctuations in land betterment charge rates and providing certainty in overall land cost, says ETC, a member of Realion Group.
Under the Urban Redevelopment Authority’s (URA) Master Plan 2025, the site is zoned for residential use with a building height control of up to 36 storeys.
ETC head of investment advisory Swee Shou Fern says the launch of 30 Mount Elizabeth is “particularly timely”, given the limited pipeline of new ultra-luxe freehold residential projects in Orchard Road vicinity. “Demand for trophy residential assets in Singapore has strengthened over the past year, supported by local and international ultra-high-net-worth individuals alike, who seek long-term capital preservation in globally recognised safe-haven markets such as Singapore.”
Completed in 1973, High Point has 57 apartments and two penthouses. Hong Kong-listed Shun Tak Holdings walked back its $556.7 million winning bid for High Point in December 2021, less than a month after it announced the acquisition, and forfeited its $1 million tender deposit.
The move came close to two weeks after the government introduced cooling measures, raising additional buyer’s stamp duty (ABSD) and tightening the total debt servicing ratio (TDSR).
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The last freehold residential site for a super-luxury condominium development that was sold was 21 Anderson in September 2021 at $213 million (or $2,490 psf ppr). To date, 16 units from the 19-unit development have been sold at an average of $4,932 psf, with the highest psf price recorded at $5,347 for a 417 sqm unit sold in September 2025.
Broadly, the ultra-luxury residential segment has shown renewed momentum since 1Q2025, according to ETC, two years after the increase in ABSD for foreign buyers in April 2023.
A total of 17 ultra-luxury homes priced at $10 million and above were inked in 1Q2026 alone – the highest quarterly sales volume since 1Q2025.
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The highest-priced transaction was a 579 sqm residence at The Marq on Paterson Hill sold for $37 million (or $5,937 psf) in January. This was followed by the sale of a 417 sqm residence at 21 Anderson at $23.1 million, or $5,146 psf in the same month.
Swee adds: “The scarcity of brand-new freehold opportunities in District 9 has become increasingly pronounced. Over the last few years, the market has seen limited freehold luxury residential launches, with most new supply being leasehold projects. Astute investors are increasingly recognising the enduring value proposition of prime District 9 freehold tenure; thereby, positioning 30 Mount Elizabeth as a compelling opportunity for developers to deliver a new benchmark ultra-luxury residential project.”
30 Mount Elizabeth is located within a stone’s throw from Orchard and Somerset MRT Stations. Popular schools located nearby include Anglo Chinese School (Junior) within 1km, and St Joseph’s Institution Junior, Singapore Chinese Girls’ School and St Margaret’s Primary School are located within a 2km radius.
The public tender closes at 3pm on June 9.
