The head and senior director of research at Knight Frank, a realty company, Dr Lee Nai Jia also concurred that the brand-new rates and sales are expected to remain reasonably stable though the resale market sellers will have high possibilities to have higher pressure to the lowering in rates. Singapore still ranks as the 2nd most costly real estate market on the planet with the average price of residential or commercial property in Singapore striking US$ 874,372 (approx. In spite of located in a fairly popular housing estate in Singapore, buyers just couldn’t accept the cost point as there are far better alternatives out there. More: Singapore property market still a picture of stability While Thailand only has 2 home billionaires, the kingdom is house to Tos Chirathivat, whose net worth of USD19 billion makes him the richest real estate billionaire in Southeast Asia, 5th worldwide.
Numerous shopping centers and facilities can easily be found within the area of Jadescape, such as Shunfu Mart, Thomson Plaza and Junction 8 at Bishan, for example, and is likewise near the popular stretch of store house restaurants along Upper Thomson and Sin Ming Roads. Jadescape Singapore is an approaching condominium task found at 2 – 16 Shunfu Road. At JadeScape, just around the bend from Marymount MRT Station and future Upper Thomson MRT Station, the city is simply a train flight away or a quick drive down the North-South Corridor. Shunfu Market is a cosy hawker centre tucked along Shunfu Road. Many would have heard good reviews of the food sold here, for example, the baked goods stall. Several of the stalls here have been operating since the hawker centre first opened, and this is evident from their long queues with many of those in the queues belonging to the older generation.
With the rapid transformation of Singapore’s food scene into commercialised food courts, it is rare to see such a nice cosy ‘traditional’ hawker centre. Have fun and enjoy the food! Bishan is situated in the central region of Singapore. It appeals together of the foremost expensive HDB towns in Singapore thanks to its close proximity to the Central downtown and good accessibility via public transportation. Retail and dining options can be found at Junction 8 shopping centre, which is located next to the Bishan interchange station of the North-South Line and Circle Line. Schools in the vicinity include reputable Catholic High School and Guanyang Primary School. Currently, there are close to 20,000 HDB flats housing an estimated population of 65,700 residents. Positive price momentum in OCR
OCR Property update 2020
The OCR price level in 4Q2019 was lifted by three major new project launches, notes Tricia Song, Colliers International head of research for Singapore. They are: Sengkang Grand Residences, which sold 235 units (median price of $1,741 psf); Dairy Farm Residences, which sold 36 units (median price of $1,553 psf); and Midwood, with 22 units sold (median price of $1,646 psf).
Meanwhile, earlier project launches such as Treasure at Tampines and Florence Residences continued their progressive take-up. In 4Q2019, Treasure at Tampines saw 156 units sold (median price of $1,376 psf) compared with 275 units (median price: $1,342 psf) in 3Q2019. Florence Residences sold 53 units (median price: $1,508 psf), compared with 293 units (median price: $1,447 psf) in 3Q2019.
RCR declines from ‘high base’ in 3Q2019
The decline within the price level for RCR in 4Q2019 might be thanks to the “high base” achieved in new project launches within the previous quarter (3Q2019), like Avenue South Residences, One Pearl Bank and Meyer Mansion, notes Colliers’ Song. In 4Q2019, there have been no new project launches within the RCR. Only 849 units from earlier project launches in the RCR were sold during the quarter, almost half the 1,502 units in 3Q2019. The absence of new launches in 4Q2019, coupled with a significant drop in transactions above $2,000 psf during the quarter, led to a 1.4% slide in the price index for the RCR, adds Ong Teck Hui, JLL senior director of research & consultancy.