Posted in March 2023: King Albert Park and Novena Prices

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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