09 Jun '11, 2pm

IM$avvy Headlines: New condos command fat premiums #property #Singapore

(SINGAPORE) Despite the record supply of state land, launch prices of new 99-year condos continue to climb, spurred by strong demand. A study by DTZ shows that median prices of new 99-year leasehold condos launched in 2010 and 2011 on sites sold at Government Land Sale (GLS) tenders have generally been 8-35 per cent higher than those of comparable nearby condos released earlier. Wing Tai recently launched Foresque Residences at Petir Road at an average price said to be about $1,100 per square foot (psf) - or 32 per cent higher than the median price for units at Tree House next door in the preceding three-month period. In February, Chip Eng Seng released My Manhattan in Simei for $1,219 psf median price - or 42 per cent higher than the $856 psf per plot ratio (ppr) median price of the Double Bay Residences nearby. Last November, Keppel Land released The Lakefront Residences...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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