Second Quarter 2009: three times increase in Singapore sub sale private property market
The Singapore private properties market is show sign of exciting during the second quarter 2009.
The domestic and mid end condominium project are the popular pick in the second quarter of the year. However the sale of high end private property project took a longer time to sell. The sub sale market seller increased due to the increased sentiment of the domestic projects.
Sub sale which mean sale of uncompleted private properties by purchasers increase threefold during the second quarter of 2009. As compare to the high end projects, the mid tier project are the popular pick.
One Amber, Centris and Casa Merah are the popular choice among the sub sale projects. At an average pricing of 0 psf during the second quarter, Casa Merah recorded 54 sub sale transaction with an average pricing of 0psf. Most popular sub sale project is Rivergate. Average price fo this project increased from 00 psf to 00 psf.
For high end project, The Sail ar Marina Bay and Icon at Tanjong Pagar is the favourite among the investors. Even the project were launched in 2003 nd 2005, the price increase 25 and 15 per cent respectively.
Many sub sale transaction are by the property investor.
The increase number of completed project contributed to the increased in the sub sale market. Many sub sale occur near to the completion of the project. Also, new project launched sell out quickly and some buyers who missed out the opportunity do not mind paying a premium for the choice unit they want.
On the other side, the number of flipping transaction had reduced. Flipping means the reselling of a property in shortest period after buying.
On the careful side, market fundamentas are still not strong but the sentiment is bullish. With the unclear market condition, the market may experience a wait and see situation
For more information on Singapore Condominium For Sale and Singapore Condominium For Rent , visit sgpropertylist.com
November 29 2009 07:16 pm | Uncategorized
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