You have not factored in the fact that Viva has 20% more not usable space (in terms of big planter areas etc) compared to surrounding older condos! (10% more useless space vs PI).
Originally Posted by jslee78I have done some price comparison ( 2bd room unit) for Viva condo. within Novena area based on:1) Condo. with similar large site area + common facilities : a) Park Infinia( FH) = 1987-2049psf (850m2).b) Soleil (LH) = 1800-1884psf(958m2).c) Viva (FH) = 2002-2150psf (958/1044m2)From the above, The price of Viva is about 5%(100psf) higher than its older cousin, the Mass market park infinia completed in 2008, and is about 10% higher than the Lease hold, highend Soleil completed in 2011. 2) Condo. with similar highend finishes:a) 26 Newton (FH) = 2400-2463psf (614-775m2)b) Viva (FH) = 2002-2150psf (958/1044m2)From the above, The price of Viva is about 10-15% lower than 26-Newton, which occupied a small site, is located further away from MRT and amenity, surrounded by towers on all sides and uncompleted. The only winning feature of 26 Newton is its smaller price quantum.Generally speaking, and despite limited comparison , Viva price doesnot seem to be excessively high in comparison with its neighbours. This comparison may reveal some of the reasons behind its recent price surge; It is a rare product by virtue of its large land size + within MRT walking distance + in a mature residential estate that is close to the city. Not many site have these combination of positive elements. Lastly, I am puzzled by one abnormality of Viva; The price of its larger units ( usually 3-bedroom unit) is leading the price surge. This is the opposite from most condo. in Singapore in current market situation (since the arrival of MM unit) . Upon close examination, there may be an answer to this abnormality, too.