Recent Market Review

Sol Acres taking all the credits for December sales results

The area of Sol Acres showflat need to create frustrating rate of interest, yet due to the fact that it’s systems are valued at approximately regarding $1,600 psf (variety is $1,430– $1,830 psf), it is somewhat greater than the anticipated $1,450 psf limit. Additionally, supply of brand-new exclusive residences is readied to expanded in the area in 2017, so renting and also resale competitors is anticipated to magnify in the future. For instance, Republic Towers, an 845 device job released in 2014, is a tight rival.

Sol Acres Executive Condominium (EC) brand-new residential or commercial property launches in 2016.

For Sol Acres, the mean negotiated cost (by means of Realis) has to do with $765 psf. This is extremely practical and also eye-catching rates for customers of brand-new ECs. Customers for ECs typically anticipate cost cuts to concerning $780 psf (as long it is especially less than $800 psf). These 2 brand-new residential property launches went way listed below the emotional costs limit for brand-new EC customers, a significant reward for HDB level upgraders checking out tasks around.

ECs this year was most definitely on a much better, brighter ground as compared to 2015, although it is even more of an enhancement as well as removal to security, as opposed to positive potential customers of the personal property market in 2016. In 2015 (specifically in H1 2015), it was still the moment where ECs were dealing with customers’ resistance because of the sticky $800 psf or even more ordinary rates that designers were hanging into, which can not be sustained as a result of the MSR cap applied in end-2013. From Q4 2015, we saw designers beginning to reduce costs for EC jobs introduced, to regarding $780 psf. As a result, EC sales enhanced.

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