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Pricier units making up bigger share of home sales

Posted on 1 Aug 2009 | Comments Off

REFLECTING larger buying appetites and more mid- to high-end launches in the market, the proportion of private homes sold at over $1.5 million has risen by six percentage points in two months.

Analysing 10,583 caveats captured by the Urban Redevelopment Authority’s (URA) Realis system from January to June, property consultancy DTZ found that 18 per cent lodged were for apartments in this price range.

From January to April, private homes costing more than $1.5 million accounted for a smaller 12 per cent of the 4,401 caveats lodged. There has been a ’spillover of buying momentum from the mass market to the mid and upper-tiers’, said DTZ head of South-east Asia research Chua Chor Hoon.

Chesterton Suntec International head of research and consultancy Colin Tan also said that more centrally located properties were introduced. ‘By virtue of the location, prices will go up.’ Continue reading →

Sale of Optima@Tanah Merah brought forward due to queues

Posted on 31 Jul 2009 | Comments Off

Developers of Optima@Tanah Merah have brought forward the launch of the condominium, which was to have taken place on Friday.

However, queues formed as early as 4pm on Thursday, prompting the developers to start selling the units.

120 units were sold yesterday with another 150 units to be balloted on Friday.

The 99 year leasehold development has 297 units.

The condo’s developers said they feel that genuine buyers will have a higher chance of getting the units through balloting, as some people have been seen selling their queue numbers.

The first 120 units were sold at about S$790 per square foot. Continue reading →