Private Properties Market in Singapore is booming during the second quarter 2009.
The mass market domestic condominium are the popular choice during the second quarter of 2009. However the sale for investment private property project is taking a much longer time to sell. Increase sentiment of the new private mass project market had entice many sellers for the sub sale sector.
Sub sale are the sale of uncompleted project by the purchasers had increase 3 times to around 1,200 unit during the second quarter of 2009. As compare to the high end project, the more popular choice are the mid tier project.
Casa Merah, Centris and One Amber are some of the popular sub sale projects. 54 sub sale transaction were record in second quarter for Casa Merah, the average pricing is 0psf and it further increase 15% in July and August. Most popular sub sale project is Rivergate. The average price increase from 00 psf to 00psf.
For high end investment project, The Sail and Icon are the popular one. Although the project is launch in 2003 and 2005, the price is increase 25 and 15 per cent respectively.
Most of the sub sale transaction buyer are investors.
The increase number of units complete this year contribute to the increase of sub sale. When coming near to the completion, many sub sale will occur. Also, for sold out new project, some buyers do not mind paying a higher price for the choice unit they want.
On the other side, the number of flipping is decreased. Flipping means the reselling of a property in shortest period after buying.
On the careful side, the market sentiment are great but the fundamentals is not that strong. With the unclear market condition, the market may experience a wait and see situation
The popular Casa Merah project is located near Tenah Merah, Find out more information on Casa Merah For Sale
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