Tag Archives: Singapore Property Prices

Five Regent Court units sold for more than $650 psf

Posted on 22 Oct 2009 | Comments Off on Five Regent Court units sold for more than $650 psf

Regent Court is a 49-unit condominium located along Serangoon Road, near the Boon Keng MRT station

PDF Version Property transactions with contract dates from Sept 18 to Sep 25

There was a flurry of transactions at the 25-year-old Regent Court recently. The 49-unit freehold condominium failed to sell en bloc for $34 million, or $528 psf, after it surfaced last December that the stamp duty for the en-bloc sale agreement in 2007 had not been paid by Regent Development, a nominee of Landquest Pte Ltd. Earlier, some owners also opposed the deal as they claimed that the sales proceeds could not cover their purchase price.

As it turns out, the failed en-bloc deal has enabled owners to ride on the recent rise in property prices. In particular, Regent Court has benefited from the strong take-up rate of new mass-market projects like Airstream @ St Michael’s Road. Property buyers who had come to view Airstream’s showflat would have driven past Regent Court, which is located along Serangoon Road, the main road leading to St Michael’s Road. In August, all 70 units at Airstream, which is developed by Millennium Homes, were sold within day, via balloting at an average price of $1,100 psf. Nearby, developments such as St Michael Regency, One St Michael’s and yet-to-be-completed Beacon Heights have been sold for an average of $800 psf this year, although latest sales saw some units breach $900 psf. Continue reading →

Comments Off on Five Regent Court units sold for more than $650 psf

Posted in En-bloc / Collective Sales, Property Price

Tagged , , , , , ,

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 →

Comments Off on Casa Merah apartments breach $800 psf mark

Posted in Property Price

Tagged , , , , , , , , , , ,