As prices of new homes rise, investors are turning to auctions and the resale market
INVESTORS who are put off by the exuberant prices of late for newer properties are turning to auctions to pick up older properties that have not quite appreciated in the same way.
Two apartments at Four Seasons Park near Orchard Road and an apartment at The Waterside in Tanjong Rhu have changed hands at auctions this week.
Colliers International sold the pair of neighbouring three-bedroom apartments at Four Seasons Park, on the fifth floor of the development’s Autumn block, for more than $2,100 per square foot each.
The apartments, each of 2,260 square feet, were put up for sale by a mortgagee bank on vacant possession basis. Unit #05-01 was sold for $4.8 million or $2,124 psf, while the next door #05-02 fetched $4.84 million ($2,142 psf). Continue reading
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