Investors browsing the tea leaves over the state of this private non commercial market can get fresh signs to arise this weekend with 3 new jobs on survey.
The terno are get spread around across the primary regions and price items neatly, with boutique expansion 38 Jervois in the best District twelve, Queens High on the populated city edge, and Paturage Riviera inside the suburbs.
Heading by brisk sales at recent launches Forest Woods and The Alps Residences, analysts expect home hunters to pick up smaller models at upcoming projects again.
The underlying demand can there be still, but buyers are looking for value. It is a play on unit sizes and overall quantum still, said one.
A consultancy said the encouraging sales at Forest Woods – near Serangoon MRT station and Nex shopping mall – on its first weekend reflect a possibly new price acceptance level for projects with strong attributes.
There could be more interest for new project launches going forward, projects around the city fringes especially, where they present the dual attributes of close proximity to the city centre and lower prices compared with prime location projects, this noted.
The city-fringe task being previewed this weekend is Hao Yuan Investment’s 736-unit A queen Peak in Dundee Street, which has immediate access to Queenstown MRT section.
Indicative normal prices on the 99-year leasehold project cover anything from $1, 430 per sq ft (psf) to $1, 830 psf, with beginning prices starting from $680, 500 for a one-bedder to $2. 96 mil for a five-room unit.
This morning that the task will be arranged into two collections — Botanic Collection Hao Yuan Investment stated, comprising one- to three- bedroom equipment from the 8th to twenty sixth floors; and Skye Collection, with three- to five-bedders and single-storey penthouses in the 28th to 44th flooring surfaces.
Buyers with deeper purses may take a look at freehold 32 Jervois staying developed by Dominant Land. The preview will probably be held on the Luxe Skill Museum in Handy Street.
The 27-unit project includes 21 one- to three-bedroom units and six penthouses, with a normal price of $2, 95 psf onwards, yesterday the developer informed The Straits Times.
Device sizes cover anything from 474 sq ft for the one-bedder to at least one, 098 sq ft for the two-bedroom additionally study penthouse. Prominent Area said the starting selling price for a one-bedder is $1. 08 million; for a two-bedder it is $1. 48 million; and for a three-bedroom unit, it is nearly $1. 81 million.
It had acquired the site with a detached house at 38 Jervois Road from a person understood to be Mr Eng Fook Hoong in February last year for $25 million, or $1, 686 psf.
The mass market project to be previewed this weekend is the 99- yr leasehold Parc Riviera in West Coast Vale by EL Development.
The average price of models is expected to be about $1, 250 psf, with a total of 752 models up for sale, about 64 per cent of which are one- and two-bedroom apartments.
Market watchers expect these project launches to push new home sales past 1, 000 models a full month this month and next, but it is too to declare that the house market offers turned a corner soon. An analyst said that he thinks the trough is very near and that the market will see a comfortable landing, but it is not quickly expected to take off. Rather, it is likely to be a U-shape recovery.
For investors looking for overseas exposure, CapitaLand is launching its latest Vietnam residential development in Ho Chi Minh City – D1Mension – at The St Regis Singapore tomorrow.