Tuesday, July 22, 2008

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Property Buying Momentum slows further: Wharf Residence sold 10 of 173, Woodsville 19 of 110, OLA Residences 10 of 50 units sold.

Last weekend saw yet another lukewarm response from buyers, reported ST.

It seems bad news of the collapse of US bank IndyMac and rescue of mortgage giants Freddie Mac and Fannie Mae last week took a toll on property sales over the weekend.

CapitaLand's Wharf Residence in Tong Watt Road sold just over 10 units of its total of 173 units. Units are priced between $1500 psf-$1900 psf. Unit sizes start at about 1,000 sq ft, so a two-bedroom unit costs $1.6 million to $1.7 million.

Frasers Centrepoint's near Potong Pasir MRT station,Woodsville 28 with a total of 110units, sold about 19 of the 48 units launched at an average price of $880 psf.

Sales also continued at a snail's pace at other condos that have recently been launched, despite reports of large crowds at showflats.

OLA Residences in Mountbatten Road has sold only about 10 of its 50 units since sales began three weeks ago.

Two smaller projects, The Scenic@Braddell in Braddell Road and Jubilee Residence in Pasir Panjang, have sold about 10 units each in the last few weekends, putting them at the halfway mark in sales. The Scenic is priced at $820 psf to $850 psf, while Jubilee is going for $900 psf.

May also want to read:
History of Singapore Property 1960 to 2008
Buy or Not Buy: How to decide amid mixed market signals
When to Buy, When Not to by
Property Price Index Graph Plotter & Online Property Valuation
Your Property Investment Determines Your Financial Success in Your Life
HDB Resales: West Sees Highest Price Increase


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The blogger here has been affectionately named by close allies as "Smart Buyer" but really, he's not smart. Smart Buyer just believes that being prudent is smart. That's the essence of the message of this blog and Smart Buyer hopes it'll benefit other property buyers.

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