IN THE latest sign of the buoyant suburban property market, home hunters in Ang Mo Kio have been submitting cheques to buy homes at prices rarely seen outside Singapore’s prime central areas.
Buyers are said to be paying prices starting from $1,150 per sq ft (psf) for the upcoming 329-unit Centro Residences by Far East Organization.
This means two-bedroom units cost more than $800,000, while three-bedroom apartments will cost $1.1 million and above.
Consultants said the Centro Residences is one of the few 99-year leasehold projects in the suburban areas that has crossed this level.
Jones Lang LaSalle’s head of South-east Asia research, Dr Chua Yang Liang, said he was ‘a bit shocked’ by the pricing.
‘I’m afraid at this moment there’s a lot of euphoria, so there will be demand for this project even at this price,’ he said.
Plus points for the project include its location in a popular mature estate right next to the Ang Mo Kio MRT station, as well as its proximity to international schools.
But Dr Chua voiced concern over the ‘long-term sustainability of this pricing’, saying that upgraders may not be able to afford it. Continue reading
Lush Dream Home 