Since 2022 2nd quarter, private resale volume has been on the decline. Ie. it may take longer to sell now than compared to years 2020-2021. However prices remain elevated.
Most recent caveats lodged in the King Albert Park vicinity still show prices holding firm. For example:
*Casa Esperanza* (31 yrs old) sold at $3.88M for a 2024sft ($1917psf) on 14 Feb 2023
*The Blossomvale* (25yrs old) sold at $2.755M for a 1324sft ($2080psf) on 3 Feb 2023
*Maple Woods* sold at $2.68M for a 1335sft ($2007psf) on 27 Feb 2023
*Gardenvista* (99yr leasehold from 1999), sold at $2.38M ($1768psf) for a 1345sft on 28 Feb 2023
2 smallish size developments around Novena MRT has just sold at new records.
*Newton 18* (TOP 2004, 80 units) just sold at $2.88M for 1249sft (i.e $2305psf) on 23 Feb 2023.
*1 Moulmein Rise* (TOP 2003, 50 units) sold sold at $2.6M for a 1238sft unit (i.e $2100psf) on 2 March 2023.
If it wasn’t for current high interest rates holding back some would-be buyers, it could be possible that demand would have been even more robust.
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