Tag Archives: Market Report

Optima @ Tanah Merah: Sold out in 3 days

Posted on 4 Aug 2009 | Comments Off on Optima @ Tanah Merah: Sold out in 3 days

SINGAPORE may still be mired in recession, but tell that to the home hunters who are flocking to the latest launches.

In the east, a new 297-unit condominium development on the doorstep of Tanah Merah MRT station completely sold out in the three days that followed its preview last Thursday.

Units at Optima went for an average price of around $810 per sq ft, or from $470,000 to $2.06million per unit.

Demand remained strong even after developer TID – a joint venture between Hong Leong Group and Mitsui Fudosan – raised prices by 5per cent, from $790 psf on Thursday to $830 psf by Friday. Continue reading →

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Posted in New Launches

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Land prices in Singapore down by 50% since 2007, analysts say

Posted on 4 Aug 2009 | Comments Off on Land prices in Singapore down by 50% since 2007, analysts say

Land prices in Singapore have slumped by up to 50 per cent since the property boom in 2007, according to market watchers. Weaker prices, coupled with recent strong demand for homes, could lure developers to replenish their land bank.

As home buyers have been flocking to project launches over the past few months, analysts said developers are showing more interest in good residential sites.

More than 7,200 new homes were sold in the first half of this year, far exceeding the over 4,200 units sold in 2008.

Last month, the government released two sites from its reserve list, under the Land Sales Programme, after receiving applications with minimum bids.

Among them was a plot at Dakota Crescent, which attracted a bid of at least S$130 million. It will be put up for public tender soon. Continue reading →

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Posted in Landed Property, Property Price

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