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Published September 19, 2006


District 15 is tops in private home sales since 2001
But it's been pipped by District 10 so far this year


By KALPANA RASHIWALA


(SINGAPORE) District 15, which includes the popular Katong and East Coast locations, is the district with the highest number of private home transactions since the start of the millennium, a report by property consultancy CB Richard Ellis says.




Between Jan 1, 2001 and Aug 23 this year - a span of nearly 68 months - a total of 9,641 caveats were lodged for private homes in District 15, or about 13.1 per cent of the total caveats for private homes over the period.

This was followed by District 10, with 7,977 caveats (or 10.8 per cent of total caveats) and District 19 which includes places like Serangoon Gardens, Hougang and parts of Ponggol (6,247 caveats). In fourth, fifth and sixth spots respectively were District 9 (4,878 caveats), District 23 which includes Dairy Farm/Hillview, Bukit Panjang and Choa Chu Kang (4,290 caveats) and District 11 which covers the Bukit Timah/Dunearn Road locations (4,374 caveats). The figures cover landed and non-landed homes in both primary and secondary markets (including subsales).

For most years between 2001 till now, District 15 has held top position. However, so far this year, it has been pipped by District 10, with 1,662 caveats (representing 15.4 per cent of total caveats during the period), compared with 1,612 for District 15.

This may be partly due to the wave of collective sales this year in District 10, for example, Eng Lok Mansion, Beverly Mai, Lucky Tower, Habitat One and Nassim Park. The location saw 1,112 caveats lodged for non-landed homes in the secondary market between Jan 1 and Aug 23 this year - the highest for any district in Singapore.

The next two most popular locations for secondary market deals for non-landed homes so far this year have been District 9 (637 caveats) and District 15 (636 caveats). Both locations have also been hotbeds of en bloc sales (Furama Tower, Hilton Towers, Hilltops Apartments and Far East Mansion for District 9 and Rose Garden and Amberville in District 15).

Nonetheless, District 15 has been the chart topper so far this year for primary market sales of non-landed homes by developers, with 730 caveats. 'The popular projects that have sold well in District 15 include The Sea View, The Esta, and One Amber, as well as several boutique developments in the Telok Kurau/Joo Chiat areas,' CBRE says.

District 15 was also the most popular location for landed home sales, with a total of 246 deals so far this year in total (covering the primary and secondary markets). This is not surprising, given the traditional popularity of bungalows, semi-detached and terrace homes in the Katong, Telok Kurau and Meyer Road locations.

CBRE notes, 'District 15 is generally popular among homebuyers due to the presence of beachfront recreational facilities at East Coast Park. Being connected to the Central Business District and Changi Airport via the ECP also makes the location of District 15 convenient and easily accessible. Families who have stayed in the East Coast areas tend to remain in District 15 should they upgrade or expand their homes.

'In the same light, young couples who have grown up in the Upper East Coast Road areas with their parents and are looking to set up a new home would also have a preference in residential developments in District 15.'

The property consulting group reckons the location will continue to attract steady interest from buyers for the same reasons.