When casa merah was first launched in April 2007, the apartments were sold for between $600 psf and $700 psf along Marine Parade Road.
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Property transactions with contract dates from Sept 11 to Sep 18
Apartments at Casa Merah changed hands at above $800 psf in the secondary market between Sept 11 and 18. The surge in price was probably because of the successful launch of neighbouring Optima @ Tanah Merah in August. The new development, which will sit next to Casa Merah along Tanah Merah Kechil Avenue, saw apartments sold at above the $800 psf level.
As at end-August, all the units at The Optima were sold except for three penthouses. The apartments fetched between $603 and $1,071 psf, according to caveats lodged with URA Realis. The 99-year leasehold Optima, which has a total of 297 units, is a joint-venture development by Hong Leong Group and Japan’s Mitsui Fudosan. The most recent sale completed on Aug 31 was for a unit measuring 969 sq ft, with two bedrooms and a study. The apartment on the 11th floor was sold for $851,100, or $879 psf. The highest transacted psf price for the Optima was for a one-bedroom apartment measuring 484 sq ft, also on the 11th floor — it sold for $1,061 psf. Continue reading
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