Tag Archives: Singapore Property Market

Sub-sales triple in second quarter

Posted on 30 Aug 2009 | Comments Off on Sub-sales triple in second quarter

Mass-market and mid-tier projects are hot, but it is taking longer to sell investment properties

The upbeat sentiment in the new private home market has lured out the sellers in the sub-sale market.

Sub-sales – the sale of uncompleted homes by their buyers – of non-landed private properties tripled to 1,200 units in the second quarter, according to a DTZ quarterly report.

This time, though, it is mainly the mass-market and mid-tier projects that are popular sub-sales. In 2007, it was the higher-end projects that found favour with buyers.

Also, the sellers are taking longer to sell their investment properties.

The DTZ study found that a few mass-market projects made their way to the Top 10 list of projects with the most sub-sales. These included Casa Merah, located near the Tanah Merah MRT Station, The Centris in Jurong West and The Quartz in Compassvale. Continue reading →

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Posted in Property Market / Real Estate, Property Price

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Buyers snap up flats at Trevista condo in Toa Payoh

Posted on 29 Aug 2009 | Comments Off on Buyers snap up flats at Trevista condo in Toa Payoh

320 of 590-unit project taken up; co-op to release more at weekend

IF it’s priced attractively, it still sells. Hungry home buyers yesterday bought around 320 units at the 590-unit Trevista condo in Toa Payoh.

By around 3pm yesterday, buyers were said to have snapped up some 190 of the total 210 units released in the first phase of the preview, resulting in developer NTUC Choice Homes Co-operative releasing a further 190 units in the early evening to satisfy demand. BT understands that the price was raised by about 2-3 per cent for the second batch from the initial phase’s average price of $898 per square foot (psf). However, some of the price gain also reflects the fact that units in the second batch are on higher floors and have better orientation.

While many people will baulk at this price for a 99-year leasehold project, what has been drawing buyers to Trevista is that the psf pricing is about 20 per cent lower than the closest competition from a comparable recently launched project – Far East Organization’s Centro Residences next to Ang Mo Kio Hub, which was released last month at an average price of $1,150 psf. However, Trevista’s units are generally bigger than Centro’s so Continue reading →

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Posted in Developers, New Launches, Property Market / Real Estate

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