For infor a transaction was done @ 1285psf already.Originally Posted by Reporter
For infor a transaction was done @ 1285psf already.Originally Posted by Reporter
How come Southbank's 1 and 2 bedrooms prices r lower than Citylights?I though new project should ve the edge in pricing..mayb it is due to their facilities..Originally Posted by Property_Owner
This high-floor unit is part of the best-facing stack.Originally Posted by Property_Owner
Let's see if Southbank can get nearer to Concourse Skyline's high of $2,200psf.
Originally Posted by URA
I think Southbank owners shan't be too greedy... already the best performing development of the year to date in terms of gains. Don't end up like St Regis highest performing loser as well.
How not to be greedy when you are owner of a property. Unless you owns montebleu!!!!! 27 units sell @ lossOriginally Posted by mcmlxxvi
It's nothing wrong if it is within the same block or connected to all the blocks and not those HDB's carpark design where you may have to walk a few blocks away.Originally Posted by focus
All least better then those FEO multi storey design.Originally Posted by jataro
Have to walk damn far
Your private messages quota has been reached. You may want to clear them so that I can send a message to you.Originally Posted by Property_Owner
Originally Posted by DC33_2008
Ok, done. Too mant people pm me for good buy.
Ya why ah? Did most of them buy high px?Originally Posted by Property_Owner
For a property that so many people sell @ loss, only one word! Speculation!!!!!Originally Posted by mcmlxxvi
What does that mean when you buy now? You could see more of them selling@ loss coming closer to TOP. I read yesterday's paper. Some one adver Montebleu under D9/10 as Montebleu @ Novena......
The water pumping station directly in front of Southbank (across the road) is being demolished now. Pumping station are subsequently phased out after Changi Water Reclamation Plant is operational and land is freed up as a result.Originally Posted by Reporter
Potential for it to be rezoned as residential since it is sitting on prime estate. Maybe a new condo there?
Nothing shown on the model at URA.Originally Posted by mezo
1930psf for Icon. Will this drive Southbank to 1600psf like 2007?
ICON GOPENG STREET Apartment 1 2,160,000 1,119 Strata 1,930 Sep-09
Suburban home prices soar
Some mid-tier projects have topped previous peaks, figures based on URA data show
Fiona Chan
The Straits Times
Friday, 9 October 2009
Citylights, a new condominium which incorporates conservation shophouses in its layout, is almost complete. In the left background are HDB flats along Jellicoe Road. -- Photo: ST
House hunters: If it feels like that suburban condominium you are eyeing is just as expensive now as it was during the 2007-2008 property boom, that is because it probably is.
Although overall private home prices are still some 15% below recent peaks, prices of mass market homes have already climbed back to the levels of early last year, right before the recession hit.
According to the Urban Redevelopment Authority’s (URA’s) latest estimate, released last week, prices of suburban private homes are just 3% shy of their peak levels in the second quarter of last year.
Some individual projects – such as Seletaris in Yio Chu Kang and Casa Merah in Tanah Merah – have already surpassed these levels, going by calculations done by The Straits Times using data from URA’s Realis database.
For mid-tier properties, URA’s data indicated prices remain about 15% off peaks last year.
But some condos in this category are also bucking the trend, with higher prices in the third quarter this year than in the property boom just past.
In the Jalan Besar area, for instance, three condominiums – Citylights, Southbank, and City Square Residences – are now commanding higher average psf than they did at the height of the boom, according to The Straits Times’ calculations.
The calculations compared these condos’ average price psf in the third quarter this year with the second quarter of last year. All the projects had several sales in the most recent quarter, but some had as few as two in the second quarter of last year as sentiment tapered off ahead of the recession.
Similarly, in the East Coast area, projects such as The Esta and The Sea View have already breached their peak average psf prices. This pattern has also cropped up in selected condos from Clementiwoods in Clementi to The Regency @ Tiong Bahru.
While launches of suburban condos have seen a massive surge in demand in recent months, resales of existing homes have so far stayed out of the limelight. But they have also been appreciating in value as sentiment in the real estate market goes from strength to strength, said property consultants.
'For mass-market leasehold projects outside the prime areas, just based on resale prices, we have almost gone back to the 2007-2008 levels,' said Ms Chua Chor Hoon, head of South-east Asia research at DTZ Debenham Tie Leung.
According to her research, the average price of a leasehold non-landed resale home rose to $610 psf in the third quarter of this year, a mere $5 psf less than the most recent peak of $615 psf.
With private home prices still on an uptrend, having jumped a 20-year record of 16% in the third quarter this year, it seems just a matter of time before suburban condo prices hit new highs.
But consultants say this may not necessarily happen, at least not by the end of this year.
For one thing, the Government’s measures to cool the property market, announced last month, could have a dampening effect on home sales and moderate price increases.
This is unlikely to hit actual demand for homes, but the announcement’s psychological impact could cause a knee-jerk reaction and help prevent private home prices from escalating at an unsustainable pace, said Ms Tay Huey Ying, director of research and advisory at property firm Colliers International.
'As it is, the stand-offs between buyers and sellers in the secondary market are showing signs of a return,' she said. Buyers are also starting to complain about the higher prices of mass market homes.
'We have seen a slight slowdown in sales generally in the market, partly because of the prices, and partly because of the Government’s announcements,' she said, adding that prices have yet to suffer.
'I think some people are refusing to pay high prices, but sellers are not lowering their asking prices, so we are seeing the number of inquiries and also transactions come down a bit.'
THE ROOF IS FORMING AT SOUTHBANK FOR THE RESIDENTIAL BLOCK AND THE FACADE IS COMPLETING SOON.
Come to know about this interesting development as I was on the way to eat the Tai Hwa bak chor mee...All this while I thought it was an office building..until now haa haa... Too bad the price now is so high, if I had known earlier could have bought it during april at a much lower price.
Originally Posted by azeoprop
How much was quoted to you?
I have a unit there
Whats so good about tis project?Originally Posted by Property_Owner
What's so bad abt this project?Originally Posted by iamforum
Originally Posted by azeoprop
In april you will say tat you should had bought it in Jan at much lower price. NOw you mention ''April''. Next labour day you will mention you could had bought in last xmas
Originally Posted by Property_Owner
Double post.
Originally Posted by iamforum
at least better then Citylights and City square.
The Good:
Can eat Tai Hwa Bak Chor Mee everyday haa haa. Anyway I have bought another project liaoz, no money now haa haa. Too bad.
Your one lohOriginally Posted by sleek
Why better then citylights and city square?Originally Posted by Property_Owner
Why better?Originally Posted by Property_Owner
is facing a big drain ...