Below
is compiled by Knight Frank Research.
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The wife and I have no idea what the "basket" that was used in the calculation
of average prices constitute but we reckon it is likely to be a mix of new and
resale properties.
So
how does one distinguish between "Ultra-luxury" from the "High-end"
segment? According to Knight Frank
·
"Ultra-luxury"
segment consist of condominium or apartment with a prestigious address,
offering a generous living space of at least 260sqm (around 2,800sqft) unit
size, with a current price of around $3,000psf or higher. Ultra-luxury
residential developments are mainly located at Orchard Boulevard Scotts Road , Ardmore Paterson Road Nassim Road
·
"High-end"
segment are prime residential properties mainly in Districts 1, 2, 4 (Keppel
Bay/Sentosa Cove), 9 and 10. High-end residential developments consist mainly
of a wider mix of unit types, ranging from two to four-bedroom configurations.
Unit sizes that fit the qualities of a high-end residential home typically
start at 150sqm (1,615sqft), with prices above $2,000psf to $2,800psf.
And before the collective
sale frenzy between the mid-1990s and mid-2000s, the average price of a
District 9 new sale and sub-sale units (of 160sqm in size or larger) was supposedly
only about $1,400sqft!
Maybe this is what "more
affordable level" means to some Singaporeans? However,
if prices of District 9 properties were to revert back to such level, imagine
what the prices for the rest of Singapore
Surely it be great for
those who are looking to buy and have the ability to pay for the property concerned with little or
no loans. But will the prevailing economic conditions that result in such halving
of market prices (psf basis) for the prime districts necessary mean that more
Singaporeans can better afford their dream private homes then? If recent history is any
indication (post 1997, post 2009 etc.), one may not be as hasty in wishing for
a steep price fall in private home prices...
This is very interesting. In Miami I saw that the tendency of the prices was dropping. I live in a condo (link for the interested: http://ionmiamicondos.com/) and the rent now dropped about 1/7 during the last month.
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