30 Mar '15, 2am

#singapore #property Swanky apartments register significant losses at auctions: More hi...

Comment E-mail to friend Bookmark & Share More high-end homes went under the hammer at significant losses to opportunistic buyers during the first quarter of 2015, revealed Colliers International and reported in the media. The Colliers report noted that five units in the central region were sold at auctions in Q1 2015, including two apartments at Twin Regency in Kim Tian Road and Pearl Bank in Outram that were auctioned off at $2.3 million and $1.35 million respectively. The others were a unit at The Grange (Grange Road) which went for $4.15 million, an apartment at Ville Royale (River Valley) which sold for $1.83 million, and an Estilo unit (Wilkie Road) purchased at $800,000. “There is an increasing number of homes, particularly high-end properties, being transacted at 20-30 percent below the peak prices in 2007/2008. Hence, we are seeing opportunistic buyers who are qui...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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