Average price for freehold Vacanza units expected to top $1,000 psf
A JOINT venture between Hoi Hup Realty and Malaysia's Sunway group is previewing Vacanza @ East, a freehold condo in the Kembangan area, today.
The project comprises one to four-bedroom units as well as penthouses.
About 39 per cent of units have either two bedrooms or two bedrooms with a study. Another 30 per cent are three bedders.
Last week, Roxy-Pacific group previewed Jupiter 18 at Lorong 102 Changi. So far it has sold more than 70 per cent of the 53 units in the freehold project, which range from one bedders of 388 sq ft to two-bedroom penthouses of 1,119 sq ft.
The average price is about $1,100 psf. In absolute quantum, prices start from slightly over $500,000 for a one-bedder.
Meanwhile, City Developments found buyers for another 35 units at NV Residences in Pasir Ris, taking total sales to 335 units out of 380 launched units in the 642-unit development.
It previewed the 99-year leasehold development on Sept 8 at an average price of $830 psf but later raised prices by about 1-2 per cent.
Meanwhile, Far East Organization sold 23 units last week across its residential portfolio, down from 32 units the preceding week.
In the latest week, it sold units at projects like Floridian, Waterfront Key, Waterfront Gold, The Greenwood, Hillview Regency, Hillvista, Silversea, The Shore Residences, Centro Residences and The Greenwich.
DTZ Research said yesterday that the average capital value of 99-year leasehold suburban private apartments/condos in the resale market rose 2 per cent quarter-on-quarter to $660 psf in Q3.
This is a smaller increase than the 4 per cent rise seen in Q2 this year.
The average cap value of luxury condos also saw a slower 1.6 per cent quarter-on-quarter increase to $2,630 psf in Q3.
In the landed segment, the average capital value of freehold homes in the prime districts 9, 10 and 11 have crept up 2 per cent Q-on-Q to $1,611 psf in the third quarter after rising 3.3 per cent in Q2.
'The slow growth in prices is likely to come to a halt for the rest of the year following the recent implementation of a slew of government measures to cool the residential market. Sales volume is expected to be lower as sellers continue to maintain their asking prices while potential buyers hold out for lower prices,' DTZ said in its release.
http://www.businesstimes.com.sg
