Category Archives: Property Price

Prices inch up as home sales hit new highs

Posted on 18 Aug 2009 | Comments Off on Prices inch up as home sales hit new highs

Even as news of the 52 per cent month-on-month jump in developer home sales to a stunning 2,767 units in July begins to sink in, analysts are revising their predictions for the full year.

The 1,825 units sold in June already constituted a record but that number was surpassed effortlessly last month as buyers, eager not to miss the boat, rushed in and developers rolled out tempting new offerings. They launched 2,878 private homes in July, up 75.8 per cent from the June figure. For a year that started gloomily, 2009 may shatter private home sales records.

From Jan 1 to July 31 this year, developers sold 10,017 private homes. The previous full-year record of 14,811 units set in 2007 is likely to be overtaken with some market watchers forecasting sales of up to 16,000 units for the full year 2009.

But it will be a toss-up between developers wanting stronger price appreciation and booking more sales, some property pundits say. Evidence of Continue reading →

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Prices at The Claymore reach $2,160 psf

Posted on 17 Aug 2009 | Comments Off on Prices at The Claymore reach $2,160 psf

The most coveted address among the traditional prime residential districts is district 9, in the neighbourhood of Claymore Road and Claymore Hill, Ard more Park and Draycott Park and in the vicinity of the American Club and Tanglin Club, just off Orchard Road. Luxury condominiums in both existing and new developments in that area have soared above $2,000 psf in the last two months — which is pretty much back to the levels seen in 1Q2007, near the peak of the recent boom.

At The Claymore, prices are at the levels prior to the Lehman Brothers collapse last September. Last month, a 19th-floor unit in one of the twin towers changed hands for $5.79 million, or $2,160 psf. This is the fourth time the apartment has changed hands in the last 14 years, and it’s the highest price achieved to date for that particular unit. According to URA Realis, the previous owner purchased the unit in early 2005 for $3.2 million ($1,194 psf). Prior to that, it changed hands in September 2000 at $3.45 million ($1,287 psf). In May 1995, the 2,680 sq ft apartment was sold for $3.7 million ($1,380 psf). Continue reading →

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