Tag Archives: Silversea

Home sales pace subsides

Posted on 25 Oct 2009 | Comments Off on Home sales pace subsides

For the first time in months, supply outstrips demand but supply glut is unlikely
The stock of available homes for sale is beginning to outstrip demand for the first time in months. — ST PHOTO: ALPHONSUS CHERN

A quiet period is always a good time for taking stock – and the rare breather in the housing market right now is allowing buyers to size up the state of home supply.

As the feverish pace of new home sales begins to subside following price hikes and the Government’s efforts to cool the market, the stock of available homes for sale is beginning to outstrip demand for the first time in months.

Last month, developers sold fewer units than they launched, only the second time they had done so since the property market started picking up in February this year.

The last time this happened was in July. Even then, however, the take-up rate was still almost one for one, at 96 per cent. Continue reading →

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Casa Merah apartments breach $800 psf mark

Posted on 16 Oct 2009 | Comments Off on Casa Merah apartments breach $800 psf mark

When casa merah was first launched in  April 2007, the apartments were sold for  between $600 psf and $700 psf along Marine Parade Road.

PDF Version 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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Posted in Property Price

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