
Originally Posted by
moneymatters
The advantage of buying older well located 99LH properties is that owners are at least still willing to let go of their unit at $500-550psf given the global uncertainties. If you care to drive around and visit showflats for the new 99LH properties launches in Bishan, Tampines, Dakota Cresecent, you will note that developers are marketing their projects around $750-980 psf. Reports suggest that these developers are pricing their products close to break even cost. It is a known fact that construction cost alone for new build today are being quoted around $350-450 psf excluding land cost and developer's margin. So in some ways, many owners of older LH properties today are selling their units without realising that they are doing so below replacement cost.
You may also like to consider Chestervale (EC) at Bangkit Road or HDB E-flat. For your info, latest HDB transaction for E-flat (126sqm) in Bukit Panjang has already shot up to $515K