Tag Archives: Pasir Ris

Condo launching in Pasir Ris, price likely at S$900 psf

Posted on 16 May 2013 | Comments Off on Condo launching in Pasir Ris, price likely at S$900 psf

Stratum, a near residential development along Elias Road in Pasir Ris will be launched this Saturday (18 May).

Offering a resort-style concept, the 380-unit project comprises apartments ranging from studios to five-bedroom units and penthouses. Dual-key homes will also be available.

Developed by Elitist Development, the condominium will also come with full facilities including two large swimming pools, a gymnasium, tennis court and floating cabanas.

According to marketing agent HSR International Realtors, Phase 1 will likely be offered at an average psf price of S$900.

Alan Tan, Head of Local Projects at HSR, noted: “As Government Land Sales (GLS) bids for city fringe residential land parcels crossed S$1,100 psf ppr (the most recent being at Kim Tian Road, was priced at S$1,162 per plot ratio), it is inevitable that the prices of future residential projects would be launched at even higher price points in line with an overall increase in property prices. Pasir Ris’ private housing is affordable now, but not for long.”

Responding, Elaine Chow, Research Head at HSR, said: “We have conservatively assumed (in tandem with an economic outlook) that there will be a two percent to five percent increase in prices on a year-on-year basis. But even with this estimate, the median price for new private residential projects in Pasir Ris will certainly breach the S$1,000 psf by end-2013, if not earlier.”

Source – PropGuru – 16 May 2013

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Housing demand remains strong in 1Q2013, despite cooling measures

Posted on 29 Apr 2013 | Comments Off on Housing demand remains strong in 1Q2013, despite cooling measures

According to a quarterly report by Knight Frank, overall private home prices grew 0.5% in 1Q2013. March was a record month, with developer sales reaching 2,793 units, mainly from major suburban condo launches such as D’Nest in Pasir Ris, Urban Vista in Tanah Merah, Trilinq in Clementi, Bartley Ridge in Mount Vernon and Hillion Residences in Bukit Panjang. The number of new home sales for 1Q2013 totalled 5,533 units, or about 27% higher than in 4Q2012, according to Knight Frank Research. The property consultant attributes the buying frenzy to fears that another round of property-cooling measures was imminent.

While residential property prices are still growing, the pace is much slower. Price growth was strongest in the suburbs, or Outside Central region, at 1.7%, as at end-1Q2013. Overall private home prices increased 3.4% y-o-y in 1Q2013, the highest y-o-y increase since 2Q2012, according to Knight Frank.

As for residential leasing, the mid-tier segment grew 4.1% to $5.15 psf per month in 1Q2013, showing stronger growth relative to the mass market, which grew just 0.7% to $3.36 psf per month, and the high-end segment, which fell 0.6% to $5.84 psf per month.

Source – TheEdge – 29 Apr 2013

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Posted in Cooling Measures, Property Market / Real Estate

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