Shucks. There were so many launches in the past few months; we were kept on a high breathing the sweet smell of new condo brochures.
But everything seems to be quiet now, with new launches slowing to a trickle once again. I am sure many of you might have felt you missed the property boat once more…but fear not!
We compared the lowest approximate prices of new projects, versus the lowest transaction of projects nearby. We know it is not entirely accurate, especially since an old condo will never stand up the same beside a sparkling new one. But we thought it could be a rough guide to value overlooked in the frenzy...
Sold recently nearby:
Trellis Towers (Freehold): $771-1098 psf - ~22.9% cheaper
Oleander Towers (99yr): $690-767 psf - ~31% cheaper
Sold recently nearby:
Grandeur 8 (99yrs) : $516-686 psf - ~57% cheaper
Sold recently nearby:
Casa Merah (99yr): $639-784 psf - ~19.2% cheaper
East Meadows (99yr): $606-685 psf - ~23.3% cheaper
Meadows@Peirce (freehold): Launch at ~$880-1094 psf
Sold recently nearby:
Bishan Park Condo (99yr): $536-576 psf - ~39.1% cheaper
The Gardens at Bishan(99yr): $603-693 psf - ~31.5% cheaper
Flame Tree Park (FH): $652-785 psf - ~26% cheaper
Sold recently nearby:
Waterfront Waves (99yr): $635-854 psf - ~19% cheaper
The Clearwater (99yr): $547-711 psf - ~30.2% cheaper
Aquarius by the park (99yr): $518-672 psf - ~33.9% cheaper
As you can see above, resale units are approximately anywhere from 19% to 57% cheaper than new launches in the vicinity. However we would like to remind you that all these numbers punched up are all very rough, so do your own homework!
The bottomline: if you guys don’t mind a little old and grime or maybe even a slightly less desirable location, there is still some decent homes out there. Now go house hunting!
Would love to hear your comments here
*resale transacted prices taken from URA June/July
Image - Brochure
Posted on 19-08-2009 15:03 | By Francis
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