Tag Archives: Singapore Property Market

September new home sales drop

Posted on 16 Oct 2009 | Comments Off on September new home sales drop

Still, full-year sales are expected to top 2007’s 14,811 units

THE recent buying euphoria in the new homes market appears to have cooled further, with developers selling 1,143 units last month, well down on the 1,804 units sold in August.

RELATED LINKS   SLIDING SALES

Property consultants attribute the fall to seasonal factors and price resistance, as well as government measures introduced last month to calm the fast-rising market.

A slowdown had been expected, as the fast and furious pace of sales – which hit a whopping 2,772 units in July alone – was not sustainable, they said.

Still, the weaker September sales figure is about treble the number of units sold in the same month a year earlier. Sales in the first nine months of the year are now 12,969 units. 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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