singapore property weekly issue 45

8/2/2019 Singapore Property Weekly Issue 45

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Issue 45Copyright 2011-2012 www.Propwise.sg. All Rights Reserved.
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CONTENTS

p2 Singapore Property News This Week

p12 Is This the Beginning of the Correction?

p17 Resale Property Transactions

(March 14 March 20)

Welcome to the 45th edition

of the Singapore Property

Weekly.

Hope you like it!

Mr. Propwise

FROM THE

EDITOR
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3/20

SINGAPORE PROPERTY WEEKLY Issue 45

Singapore Property This Week

Page | 2Back to Contents

Residential

HDB upgraders finding it harder to

purchase private property

With the slower resale market, coupled with

decreasing cash-over-valuation (COV)

figures, HDB upgraders are finding it harder

to upgrade to private properties.Based on

PropNex Realtys February resale deals,

median COVs for all flats other than three-

room flats fell by $3,000 to $7,000. In

January, the figures for all flat-types fell by

$3,000 to $6,000. The median COV for all flat

types is estimated to be around $25,000,

compared to $35,000 in Q4 2011.

The fall in COVs for all except for five-room

and executive units in some towns reflects

the slowing HDB resale market in 2012. HDB

upgraders are less willing to sell their flats at

a lower price since they need to purchase the

more expensive private property. However,

they need to sell the flat to get the cash for

purchasing a private property.

However, the decrease in demand for resaleflats as buyers turn to BTO flats and ECs with

the promise of increased chances in balloting

for the former and an increased monthly

household income for the latter may mean

that sellers have to lower their asking price if

they want to sell their flats. The rulecompelling private property owners to dispose

of their private homes within six months of

taking possession of the HDB flat if they buy

resale flats is another factor that led to the


4/20



decrease in demand. Furthermore, with the

discounts and vouchers that developers offer

for new private properties, buyers may prefer

these brand-new units than older resale flats.

Nevertheless, prices for HDB resale flats are

expected to increase in the long term, driven

by demand for flats in mature estates, as well

as demand from from second-timers, singles,

private property owners, permanent residents,

and first-timers who do not wish to wait threeyears for the completion of a BTO flat.

Figures in 2011 showed a 24% decrease in

HDB resale transactions to 24,633 units and a

10.7% increase in HDB resale prices though

the increase in prices are likely to moderate

now.

A slew of housing projects to be released

A slew of upcoming projects are expected to

be released soon, with some possibly sold at

lower prices than neighbouring projects to

attract buyers. These projects include MCL's

Ripple Bay condo near Pasir Ris, Frasers

Centrepoint's Palm Isles condo at Flora Drive,

Far Easts Hillsta project at Choa Chu Kang

Road (all 99-year leasehold) and Roxy-Pacific

Holdings and Macly Groups joint freehold

Natura project located at Hillview Terrace.

679-unit Ripple Bay located within walking

distance from Pasir Ris Beach consists of four12-storey and three 13-storey blocks and offer

a tennis court and a 50-metere lap pool. Its

average selling price of $850 psf (after early-

bird discounts) is lower than nearby

Seastrand project released last June, which is

selling its units at an average of more than$900 psf despite being located further from

the beach. One bedroom units constitute

18% of the units while two-bedroom units

constitute 42%.


5/20



A 484-sq-ft one-bedroom unit costs $415,130

or $858 psf while a 990-sq-ft three-bedroom

unit costs $795,500 or $805 psf.

Meanwhile, 429-unit Palm Isles at Flora driveis expected to sell its units at an average of

$850-$880 psf, lower than nearby Hedges

Park median of $889 psf when released in

April 2011. The development also includes 28

'garden homes' with private carpark lots and

gardens.416-unit Hillsta at Choa Chu Kang Road will

include condo and Soho-style apartments as

well as strata townhouses.

10-storey Natura at Hillview Terrace is

expected to price its units at an average of$1,250 psf. It will consist of one, two and

three-bedroom units and penthouses, of

which the three bedroom units will start at 635

sq ft.

Record 98.1% of profitable subsales in

2011 despite SSD

Despite the drag on subsales and the holding

period for such transactions, the extension ofthe seller's stamp duty (SSD) by up to 16% in

January 2011 did not seem to affect the total

number of profitable subsales (98.1%). This

was because many of the 2,337 units subsold

in 2011 had been bought before the new rules

were implemented on January 14 last year.The average gain per unit in 2011 was the

highest in three years, but much of the

subsales transactions are from properties

bought in 2009, rather than 2011 (with only 11

properties from that year involved in

subsales). Since 2009 had been a bad year

for theprivate residential property market, the

average gain per unit had increased

significantly in 2011.


6/20



The average profit per unit was $309,455, an

8.3% increase from 2010s $285,718. This is

equivalent to 25.4% average profit per unit

when expressed in percentage. Both figures

are the highest in three years. 1,164 of the

units subsold were from properties that had

been previously transacted in 2009 but only

two made a loss. This was likely due to the

significant rise in private home prices since

2009; units transacted in other years (2005-

2010) that were subsold in 2011 also mainly

saw gains. This was not the case for those in

2011. The six non-landed private homes

bought after implementation of the SSD and

subsold in the same year resulted in an

average loss per unit of $129,739 after SSD.

If the SSD was not imposed, these

transactions might have been profitable.

The average holding period was 2.34 years,

compared to 2.16 years in 2010. This was a

probably a result of the SSD which

discourages speculative buying and selling by

imposing higher SSD on those who sell their

property quickly and the fall in private home

prices. These may have also caused the

22.2% fall in the number of subsale

transactions in 2011 to 2,619.

According to URA, prices of non-landed

private homes increased by 4.6% in 2011

compared to 14% the year before. If thistrend continues, the number of subsales

transactions is likely to decline further in

2012.

HDB launches 8,000 BTO and balance-of-

sale flats

HDB is launching 8,000 flats through a joint

built-to-order (BTO) and Sale of Balance Flats

(SBF) exercise, over half of which are BTO

flats.


7/20



The units will include all flat types and are

located in both mature and non-mature

estates. The BTO flats consist of 1,220 units

in Bukit Batok, 860 in Bukit Panjang, 670 in

Clementi, 640 in Geylang, 410 in Bedok, 180

in Toa Payoh and 130 in Bukit Timah. The

wide range of flat types and varied locations

meant that buyers have several options

though competition for completed or almost

completed units in the mature estates are

likely to be high.

New measuresto help genuine HDB flats

buyers

These new rules include one that serves to

prevent buyers from cancelling their bookings

on flats. Applicants who cancel their bookings

without valid reasons will not be allowed to

apply for, or be included as an essential

occupier for a new HDB flat, DBSS (Design,

Build, and Sell Scheme) flat, executive

condominium (EC) unit, or resale flat with

housing grants, within one year from the date

of cancellation. Meanwhile, the income ceiling

for two-room flats in mature towns will be

raised from $2,000 to $5,000 per month while

those in non-mature estates will remain at

$2,000 to ensure that low-income families will

still be able to purchase flats.

To meet the demand, HDB will offer 4,640BTO flats during the May BTO launch in

addition to 8,000 flats were launched under

the joint build-to-order (BTO) and Sale of

Balance Flats (SBF) exercise recently, which

includes 4,153 new flats from eight BTO

projects and 3,825 SBF units located in 15mature and 11 non-mature estates. First

timers will be given priority for 1,739 of the

BTO flats in mature estates and 3,609 SBF

SINGAPORE PROPERTY WEEKLY I 45


8/20



units while second-timers now have a 15%

chance at the 2,094 BTO flats in non-mature

estates.

In addition, the Multi-Generation Priority

Scheme will give priority to married children

and their parents who jointly apply to live near

each other while the enhanced Married Child

Priority Scheme will give a married child six

ballot chances and three ballot chances if he

applies to live with his parents depending onwhether he is a first- or second-timer.

Lower private home prices to benefit

buyers

NUSs Singapore Residential Price Index

(SRPI) showed a 0.8% decrease in prices of

completed properties from last month, with

the biggest fall from small apartments

islandwide (up to 506 square feet) and the

Central Region (excluding small units) by

0.9%. The sub-index for Non-Central Region

(excluding small apartments) also fell by

0.6%. The overall SRPI index also fell by 1%

in January and is likely to continue falling.

This reflects a decline in demand, may alsomeans that buyers now have more power to

negotiate prices.

50 units of Palm Isles sold at an average

of $830

50 units at 99-year leasehold 429-unit PalmIsles condo project at Flora Drive had been

sold at its preview launch of 100 units. After

discounts, the average price is $830 psf,

below the expected price of $850-880 psf.

The development comprises a mix of five to

seven storey blocks as well as 28 'gardenhomes' with four to five bedrooms, a private

carpark space and garden for each unit.

Facilities include two tennis courts and a

SINGAPORE PROPERTY WEEKLY I 45


9/20



50-metre lap pool. The units sold were mainly

two- and three-bedders, with two garden

homes to mainly Singaporeans. Prices range

from $460,000 or $909 psf for a 506-sq-ft

one-bedroom unit, $660,000 or $839 psf for a786-sq-ft two-bedroom unit, $760,000 or $767

psf for a 990-sq-ft three-bedroom unit to $2.2

million or $730 psf for a 3,014-sq-ft garden

home.

270 Ripple Bay condo units sold99-year leasehold 679-unit Ripple Bay condo

at Pasir Ris has sold 270 units at an average

price ranging from $855-$870 psf. Units sold

include one-bedroom, two-bedroom and

three-bedroom units, mainly by

Singaporeans. The project is located right infront of 473-unit Seastrand, where almost 100

of its remaining units are priced at an average

of $905 psf. However, it may also face

competition from the upcoming June launch

of 376-unit Sea Esta, which could price its

units more competitively given the lower land

price the developer paid and the developers

ability to do its own construction, in addition to

two nearby sites on the H1 2012 confirmedlist of the GLS programme.

Commercial

A fall in industrial rents predicted

Industrial rents are expected to fall by 5-10%

with higher decline in business park rentals

as a result of competition from office spaces.

Demand has also been on the decline, and

new rules preventing unauthorised use do not

help either.The expected increase of business

park supply by 1.4 million square feet,

coupled with the vacancy from existing supply

(20%) is also likely a factor for the decline in

rents. There is also an upcoming increase of

1.2 million sq ft of private multiple-user space

for the year.



10/20



GRTH Building purchased by Oxley

Holdings

Oxley Holdings Ltd bought the freehold

22,147 sq ft site located at 66 East Coast

Road at $76.1 million, or $1,298 psf ppr

based on the potential gross floor area of

66,441 sq ft, which took into account the

development charge. The site, zoned for

commercial use with a 3.0 plot ratio, can be

potentially redeveloped for hotel, commercial

or residential purposes, subjected to approval

from the authorities.

Grade A office rents to drop in 2012

Grade A office rents is expected to decrease

by 10-15% in 2012, given the new office

supply in the form of Marina Bay Financial

Centre and Asia Square in 2012 and 2013

respectively. The decrease in demand from

the financial sector which usually rents large

spaces will likely contribute to this decline. Q1

monthly gross office rents for Super Grade A

office buildings and Grade A buildings has

declined from Q4 2011 by 12.6% to $11.40

psf and 2.6% to $10 psf respectively. The fallin Super Grade A rents was likely due to

competition from other Super Grade A office

buildings and upcoming Marina Bay Financial

Tower 3. Lower rental transactions from less

attractive units have also contributed to the

lower rental rates.

Grade A office buildings are also facing stiff

competition as more tenants move to other

more attractive spaces.There are 140,000 sq

ft of office space expected to be completed by

the end of this year which may lead to adecline in rental rates even though the current

rental rate is fairly steady with only 1%

decrease from Q4 2011 to Q1 2012 to $9.40

psf.



11/20



Rental rates in Tanjong Pagar and CBD fringe

areas have also remained stable. Monthly

average gross office rents for Grade A

buildings in the Shenton Way/Robinson

Road/Tanjong Pagar area and suburbanlocations also remained stable at $7.80 psf

and $6.20 psf respectively.

75% of Paya Lebar Square's office tower

sold

75% of the 99-year leasehold developments10-storey office tower has sold at an average

of $1,750 psf, the strong interest a result of

the lower rental rate of $6 psf in the area

compared to CBDs $10-$12 psf. Companies

may also rather own a property than be

subjected to fluctuations in rents. Otherreasons for its popularity include the proximity

to Paya Lebar MRT interchange station and

the lack of ABSD and SSD that might be

imposed on purchase. Most of the 556 office

units except for those on the 13 th floor have

been launched.Smaller units are more

popular than larger ones, with sizes ranging

from 480 sq ft to 43,000 sq ft.The 159-unitretail podium will not be sold for now and a

weighted average rental rate of $16 to $18

psf might be charged.The project with

671,420 sq ft gross floor area and 300 car

park lots is expected to be completed in mid-

2014.

Meanwhile freehold 32-storey Oxley Towers,

a mixed office-retail developmentat Robinson

Road and 99-year leasehold Eon@Shenton

Way are expected to be launched soon.

Prices for the latters commercial, residentialand shop units are expected to be priced from

$2,700 psf, $2,200 psf and $5,000 psf,

respectively.



12/20



Oxley Tower units so popular that ballots

have to be conducted

Freehold Oxley Tower, a mixed retail-office

strata development located at 138 Robinson

Road attracted so many buyers for its shop

and cafe units that two phases of ballot have

to be carried out. Prices range from an

average of $6,653 psf for cafes ranging from

398-807 sq ft to an average of $4,820 psf for

shops ranging from 118-409 sq ft. The 56

released office units on levels 5-18 were

priced at an average of $3,048 psf. All of its

eight cafes and 121 shop units were sold out,

while 60% of the 56 office units released had

also been sold.The development has a total

of 104 office units. The remaining space for agym or spa and three restaurants will only be

soldif prospective buyers express their

interest.

http://www.propwise.sg/secretsofsingaporepropertygurus/


13/20



Is This the Beginning of the Correction?

By Mr. Propwise

From the URAs recent flash estimate of the

1Q2012 private residential property price

index, property prices have begun their long

awaited decline. Prices were down 0.1% in the

first quarter on a quarter-on-quarter basis.

But at the current levels the price index is still

16.1% above the previous 2Q2008 peak, and

13.6% above the previous all time high in

2Q1996.

This estimated decline of 0.1% comes after the

rate of growth of the PPI had slowed for 9consecutive quarters, i.e. property price growth

had been decelerating continuously.

Figure 1 URA Property Price Index



14/20



This is likely due to concern over the slowing

economy, worrying global economic situation

especially with the troubles in Europe and

weak growth in the US, combined with thedampening effect of multiple rounds of

government measures.

Sharp or Gradual Decline?

Figure 2 Change in Property Price Index

I had previously predicted that we would see a

quarter-on-quarter decline in the 1Q2012

Property Price Index disclosure, and the

URAs flash estimate confirms that view. Theflash estimates are put together based on the

caveats lodged during the first ten weeks of

the quarter, and the formal number will only

be updated 4 weeks later, so there could still

be some difference between the actual and

flash numbers.

The uncertainty is whether we will see a sharp

decline as during the 1997-1998 Asian Crisis

and 2008-2009 Financial Crisis, or whether it

will be a more gradual decline as we saw

during the 2000-2004 Post-Dotcom Bubble

and SARs era.

I did a study of the previous 3 property market

corrections and found that the PPI corrected



15/20



in the range of 19.9% to 44.9% and that the

correction lasted from 4 to 15 quarters:

2Q1996 Peak to 4Q2008 Trough 44.9%

decline over 10 quarters





If history is anything to go by, what thismeans is that the correction could be longer

and stronger than what most people are

expecting. However, I believe that we will

only see similar levels of price declines if

there is an external crisis to cause a sense of

panic, which we had in each of the previous 3declines (e.g. Asian Crisis, Dotcom Bubble,

Global Financial Crisis).

However some believe that the abundant

global liquidity situation could blunt or even

reverse the decline in Singapore property

prices. Led by the European Central Bank

and Fed, governments around the world

have been easing monetary policy and

keeping interest rates low to prevent another

crisis triggered by too much debt.

Figure 3 Straits Times Index



16/20



Even though the January rally in the Straits

Times Index seems to have stalled at around

3,000 points, it is still up more than 10%

since the end of last year. So if you believe

that the stock market is a leading indicator for

the property market, then we could see

property prices supported in the coming

quarters.

Possible 6th round of Government

Measures Following Strong Developer

Sales?

Sales of new residential homes by

developers hit 5,200 units in 1Q2012, a very

strong number and second only to the 5,578

units we saw in 3Q2009. Sales were buoyed

by the launch of large numbers of compact

units with affordable total costs in mainly

mass market locations, and this can be seen

in the top selling projects such as Watertown

in Punggol, The Hillier in Hillview Avenue,

and Prac Rosewood in Woodlands.

In fact, prices of non-landed privateresidential properties in the Outside Central

Region actually increased by 1.2%, versus a

fall of 0.9% in the Core Central Region and

0.7% in the Rest of Central Region. Prices in

the Outside Central Region not only

increased, but the increase was an

acceleration compared to the 0.6% increase

in the previous quarter.

The very strong volumes of developer sales

combined with the acceleration of prices in

the mainly mass market Outside Central

Region increases the probability of the

government putting in place a sixth round of

property measures to further cool sentiment.



17/20


This is especially so given that the harsh

Additional Buyers Stamp Duty (ABSD) put in

place in December 2011 seems to have not

dampened sentiment that much.It is not clear right now whether a potential

sixth round of cooling measures would

comprise merely of refinements to the current

measures (e.g. increase ABSD?) or be

something brand new. Either way, all property

market constituents should brace themselves

for this possibility.

http://www.moneymatters.sg/


18/20


Non-Landed Residential Resale Property Transactions for the Week of Mar 14 Mar 20

Postal

DistrictProject Name

Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

1 THE SAIL @ MARINA BAY 657 1,346,850 2,051 99

1 THE SAIL @ MARINA BAY 614 1,150,000 1,874 99

3 TANGLIN VIEW 1,141 1,450,000 1,271 99

4 MARINA COLLECTION 1,873 5,244,400 2,800 99

4 CARIBBEAN AT KEPPEL BAY 904 1,510,000 1,670 99

5 THE PARC CONDOMINIUM 667 880,000 1,319 FH

5 HERITAGE VIEW 1,195 1,350,000 1,130 99

5 HERITAGE VIEW 1,313 1,460,000 1,112 99

5 NORMANTON PARK 1,270 1,360,000 1,071 102

5 BLUE HORIZON 1,216 1,220,000 1,003 99

7 BURLINGTON SQUARE 872 1,125,000 1,290 99

8 CITYLIGHTS 1,313 1,850,000 1,409 99

9 BELLE VUE RESIDENCES 2,067 4,435,782 2,146 FH

9 THE PIER AT ROBERTSON 753 1,470,000 1,951 FH

9 RIVERGATE 1,507 2,742,740 1,820 FH

9 ASPEN HEIGHTS 883 1,380,000 1,563 999

9 ASPEN HEIGHTS 1,582 2,238,000 1,414 999

9 PEACE CENTRE/MANSIONS 2,605 1,720,000 660 9910 ARDMORE II 2,024 5,200,000 2,570 FH

10 FOUR SEASONS PARK 2,260 5,700,000 2,522 FH

10 SPRING GROVE 1,012 1,650,000 1,631 99

10 FIFTH AVENUE CONDOMINIUM 1,615 2,480,000 1,536 FH

10 WARNER COURT 1,206 1,750,000 1,452 FH

Postal


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

10 VALLEY PARK 1,216 1,700,000 1,398 999

10 JADE MANSION 2,723 3,680,000 1,351 FH

10 TULIP GARDEN 1,701 2,150,000 1,264 FH

10 DUCHESS CREST 1,701 2,000,000 1,176 99

10 THE SERENADE @ HOLLAND 1,539 1,670,000 1,085 99

11 RESIDENCES @ EVELYN 1,539 2 ,640,000 1 ,715 FH

11 EVELYN MANSIONS 840 1,210,000 1,441 FH

11 M21 1,755 2,390,000 1,362 FH

11 ROCHELLE AT NEWTON 1,356 1 ,838,000 1 ,355 99

11 MONARCHY APARTMENTS 1,302 1,400,000 1,075 FH

12 RAJAH TOWERS 2,207 1,760,000 798 FH

14 THE TRUMPS 700 820,000 1,172 99

14 DENG FU VILLE 1,001 968,000 967 FH

14 STARVILLE 1,238 1,068,000 863 FH

15 AALTO 1,442 2,640,000 1,830 FH

15 TEMBELING RESIDENCE 420 695,000 1,656 FH

15 THE SEAFRONT ON MEYER 1,615 2,440,000 1,511 FH

15 MEYER RESIDENCE 904 1,328,800 1,470 FH15 KING'S MANSION 1,604 2,200,000 1,372 FH

15 TIERRA VUE 1,227 1,600,000 1,304 FH

15 COTE D'AZUR 1,109 1,350,000 1,218 99

15 COTE D'AZUR 1,539 1,860,000 1,208 99

15 PEACH GARDEN 2,766 3,300,000 1,193 FH



19/20


Postal


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

15 COSTA RHU 1,776 2,118,000 1,193 99

15 BUTTERWORTH 8 1,023 1,168,000 1,142 FH

15 EAST PALM 1,195 1,228,000 1,028 FH

15 HAIG LODGE 614 620,000 1,011 FH15 THE HACIENDA 1,894 1,900,000 1,003 FH

15 VILLA MARINA 1,249 1,100,000 881 99

15 CRESCENDO BUILDING 1,302 1,030,000 791 FH

15 VILLA MARINA 1,539 1,160,000 754 99

15 MERLOT VILLE 1,744 1,300,000 746 FH

15 VILLA MARINA 2,013 1,400,000 696 99

16 COSTA DEL SOL 1,313 1,430,000 1,089 99

16 BAYSHORE PARK 936 850,000 908 99

16 BAYSHORE PARK 936 838,000 895 9916 THE BAYSHORE 947 820,000 866 99

16 BAYSHORE PARK 936 810,000 865 99

16 CHANGI COURT 1,389 1,200,000 864 FH

16 THE TAIPAN 1,507 1,300,000 863 FH

16 THE CLEARWATER 1,259 950,000 754 99

17 BLUWATERS 818 788,000 963 946

17 AVILA GARDENS 893 800,000 895 FH

17 BALLOTA PARK CONDOMINIUM 1,066 820,000 769 FH

18 EASTPOINT GREEN 958 815,000 851 99

18 SAVANNAH CONDOPARK 1,206 950,000 788 99

19 REGENTVILLE 1,152 798,000 693 99

20 RAFFLESIA CONDOMINIUM 915 1,000,000 1,093 99

20 BISHAN POINT 1,270 1,190,000 937 99

20 BRADDELL VIEW 1,453 1,100,000 757 99

Postal


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

20 FAR HORIZON GARDENS 1,152 840,000 729 99

21 MAPLEWOODS 1,787 2,198,000 1,230 FH

21 GARDENVISTA 1,163 1,300,000 1,118 99

21 SIGNATURE PARK 1,055 1,110,000 1,052 FH21 MEADOWLODGE 1,356 1,400,000 1,032 99

21 PARC PALAIS 980 950,000 970 FH

21 BROOKVALE PARK 2,282 2,208,000 968 999

21 SPRINGDALE CONDOMINIUM 1,216 1,150,000 945 999

21 HUME PARK II 1,722 1,620,000 941 FH

21 THE HILLSIDE 1,518 1,408,000 928 FH

21 HUME PARK II 1,238 1,100,000 889 FH

21 MAYFAIR GARDENS 1,076 880,000 818 99

21 BEAUTY WORLD CENTRE 1,970 1,515,000 769 9922 THE CENTRIS 1,324 1,450,000 1,095 99

22 LAKEHOLMZ 1,238 969,000 783 99

22 THE MAYFAIR 1,227 940,000 766 99

22 LAKESIDE APARTMENTS 1,518 838,000 552 99

23 PARK NATURA 1,744 1,850,000 1,061 FH

23 HILLINGTON GREEN 1,528 1,500,000 981 999

23 THE JADE 1,012 940,000 929 99

23 HILLVIEW 128 969 885,000 914 999

23 MERAWOODS 1,345 1,150,000 855 999

23 HAZEL PARK CONDOMINIUM 1,345 1,145,000 851 999

23 HILLBROOKS 1,130 932,000 825 FH

23 P ARKVIEW APARTMENTS 936 730,000 780 99

23 REGENT HEIGHTS 1,023 780,000 763 99

23 REGENT GROVE 1,163 850,000 731 99



20/20


NOTE: This data only covers non-landed residential resale propertytransactions with caveats lodged with the Singapore LandAuthority. Typically, caveats are lodged at least 2-3 weeks after apurchaser signs an OTP, hence the lagged nature of the data.

Postal


Area

(sqft)

Transacted

Price ($)

Price

($ psf)Tenure

23 NORTHVALE 1,087 780,000 717 99

23 REGENT HEIGHTS 1,173 838,000 714 99

23 REGENT GROVE 1,173 812,888 693 99

25 CASABLANCA 1,119 905,000 808 99

25 WOODGROVE CONDOMINIUM 1,744 1,250,000 717 99

26 THOMSON GROVE 1,485 1,325,000 892 FH

26 CASTLE GREEN 1,410 1,125,000 798 99

27 THE SENSORIA 1,345 1,090,000 810 FH

27 SELETARIS 1,593 1,220,000 766 FH

28 GRANDE VISTA 1,367 1,100,000 805 999
http://www.propwise.sg/secretsofsingaporepropertygurus/

singapore property weekly issue 45

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