Far East Organisation, Singapore’s biggest private property developer, launched Centro Residences in Ang Mo Kio. Prices work out at $1,100 per square foot (psf). Deals done in July were at $1,117 psf to $1,228 psf.
Property experts say such prices are more normal among prime projects or city-fringe properties, but were too expensive for suburban lease homes.
During the sales boom in the mid-1990s, Far East Organisation set a leasehold record when it launched Bishan 8, wherein units were sold for as much as $1,100 psf.
At some current launches, over-market values were also witnessed. For instance, Ascentia Sky sold at $1,064 psf to $1,459 psf.
If It Is Appropriate, Wear It
A glimpse in the amount of shoes outside an apartment informs you instantly how crowded the place is. Apartments are normally no shoes zone.
Some of the current new launches have drawn scores of visitors, who abandon limitless shoes outside the apartments.
Line Up
Line ups at recently opened condominiums were ordinary during 1996 and 2007, with people lining up for hours for a unit.
Seize My Cash
Current launches like Optima, Meadows@Peirce, buyers have been eager to surrender blank cheques in an offer to obtain a unit.
The cheques are presented to agents even ahead of the final costs released.
Voting
TID developer decides to sell by means of voting when buyers once more began lining up a day facing of the public view.
TID’s spokesperson said that voting was clearer and the crowd could be dissolved faster. It also prevented people from attempting strategies like putting their place for sale in the line up.
The final ballot of the 152-unit One Devonshire in Devonshire Road was seized due to its strong purchase requirements.
Hard-working Agents
A glimpse at the confidential commercial on property pages will inform you that the flippers have return.
They have been putting commercials for sold-out or launched projects, hopeful in making quick cash. Commercial for Optima units emerged just days after the project was sold.
Agents and sellers are still putting commercials for projects well-known with investors, counting The Metropolitan.
At current launches, property agents are attractive to possible purchasers’ kiasu mentality, or the terror of losing the boat, and advising them to do something before values rise.
Liquidised
Do not pay attention to pay cuts that are still in position at a few firms or that cutback remains at others. By no means will you miss a good chance to purchase as you are offered with one
Surely, Singaporeans have been out in crowd whenever projects deemed affordable arrive on the market.
In February at the time sentiment was poor, in Alexandra Road, the 293-unit Alexis was introduced at $850 psf to as much as $1,100 psf and, in a matter of days, it was entirely sold.
Other recent lunches that immediately sold out in later months comprise 8@Woodleigh in Potong Pasir, on Devonshire Road, the Illuminaire, and in Tanah Merah, Optima.