The list is from a Homebuyers’ Sentiment Survey by EdgeProp-Knight Frank in which potential buyers preferred condos in prime districts. Many of the buyers preferred properties below $1.5m.
According to Jan 22 URA data, of the 10,893 transactions in 2H2017 for private non-landed residential homes, 38.8% fetched between $1m to 1.5m.
While the perception is that only shoebox units would come at this price, there were units bigger than 800 sq ft that fetched less than $1.5m in the second half of 2017.
Hillcrest Arcadia had 8 transactions all below $1.5m in the second half 2017. The 3-bedroom units measuring 1,711 sqft were the largest. Two of the units fetched $1.35m ($789 psf) and the third fetched $1.5m ($876 psf). The smallest was a 581 sqft unit that fetched $560,088($964 psf). The project located off Adam Road was completed in 1980 and has a 99-year leasehold.
19 Shelford Road is another project near Adam Road that was completed in 1997 and it is on freehold. It had 3 two bedrooms units measuring about 900 sqft fetching between $1.38m to $1.41m in 2H2017. Two units of 732 sqft fetched $950,000 and $1million. A one-bedder of 635 sqft was the smallest transaction and it fetched $950,000.
The Asana, across Bukit Timah Road is a 48-unit freehold project that was completed in 2017. Based on the URA caveats, 8 units were sold at below $1.5m from $995,000 to $1.4m. There were 12 units remaining as at the end of 2017.
(Artist's Impression of The Asana)
Sophia Hills on Mount Sophia near Dhoby Ghaut MRT expects its TOP in 2Q2018 and had 169 units sold at about $1.29m ($2,031 psf) in the second half of 2017.
6 Derbyshire, a 168-unit freehold off Thomson Road and near Novena MRT that was completed in 2017 had 36 transactions in 2H2017 below $1.5m. The largest was a 2-bedder of 732 sqft that fetched 1.39m while the smallest were 1-bedders that fetched $1.08m to $1.36m of which 15 were sold.
At Soleil @ Sinaran development, in the 2H017, 8 units fetched below $1.5m. The largest was a 2-bedroom unit of 958 sq ft that fetched $1.36m while smallest measuring 506 sqft fetched $988,000. The condo next to Novena Square Mall has 417 units.
Near Soleil @ Sinaran is 26 Newton, a 180 unit freehold development. 20 if its units of between 474 sqft and 570 sqft were transacted from $1.16m to $1.46m in the second half of 2017.
Near 26 Newton is Amaryllis Ville, a 311-unit condo on a 99-year leasehold, a 1,033 sqft 2 bedder fetched $1.33m in 2H2017 while another 3 two bedders of between 958 to 980 sqft fetched $1.41m to $1.49m.
Vida in Cairnhill area is a 137-unit freehold development whose 5 units were sold in 2H2017. The units measuring 517 sqft to 527 sqft fetched between $1.06m and $1.15m.
There were 125 units sold below $1.5m in the CBD in 2H2017. Although smaller units were the majority, 24 measured at least 700 sqft. Icon, a mixed-use development in Tanjong Pagar had 2 units measuring 904 sqft sold at $1.37m and $1.47m.
A 2-bedder of 893 sqft at The Sail @ Marina Bay fetched $1.499m while at The Clift 2 units measuring 775 sqft and 818 sqft fetched $1.27m to $1.38m.
In the meantime, at Skysuites @ Anson, 14 two bedrooms units measuring 700 sqft fetched from $1.3m to $1.4m in the second half of 2017.
In the 2H2017, developments in the River Valley area on freehold or leasehold of 999 years such as RV Residences, Nathan Residences, Espada and Valley Park had units that fetched below $1.5m. At Valley Park, 6 units measuring between 797 sqft and 861 sqft fetched prices that ranged from $1.16m to $1.3m.
RV residences, a 248-unit development had 26 units sold below $1.5m in the second half 2017. The largest were 3 two-bedders measuring 700 sqft that fetched $1.35m to $1.38m.