Has Singapore property market has gone silent?

Despite the raging corona virus outbreak during this period, many other new residential project such as the Tedge still sold a few untis.

The project has 42 units, early on February 29 during the Lunar New Year holiday market will launch a preview. While the government in March further tightened quarantine measures, but still sold Tedge eight units, the median price per square foot to $1596. Among them, a three bedroom units, the highest for more than the price for legs 1691 sales, overall sales performance was good.

It’s a 2 bedroom units (775 square feet), 3 bedroom unit (818 to 990 square feet) and 4 bedroom unit (1184-1238 square feet), respectively, from 1,260,000 yen at takeoff, 1,370,000 yuan and 1,670,000 billion takeoff outside. Project also has 13 top-level penthouse units (915 – 1119 square feet), priced at 1,440,000 yen from the takeoff.

2022 is expected to be completed before Tedge integrated project is a residential building height of five stories, but mainly as a layer of ground floor commercial space. The projects for 13 minutes, Changi road on foot can be arrived at Notts, as well as friends of subway station adjacent to the east coast by 100 hospitals.

As a result of our current blocking measures have been extended until 1 June, and brokerage houses of this period are not allowed to take them to the actual sites visited the house, a private demonstration unit has also been unable to open.

Project developers Macly group sales manager accepted Zhang Yiwen Lianhe Zaobao, noted that the company access to potential buyers to make a virtual look at housing arrangements.

More recently, Parc Esta located at Eunos project sales are doing pretty well. The 99-year leasehold project located in the East has a total of 1,399 units. Covid-19 currently still on going but didn’t drag on its sales performance in March still selling, 63, and the median unit price is $1657 public since November 2018 have been sold since its launch in 1164, 83% of units.

Xiang Yuexin private markets have sold off.  In the first quarter of this year was unusually quiet trading trailing it is close to zero. Even last year, completing a transaction, but each item numbers are no more than five points.

Homes along the Eunos rises, and many are permanent lease project. But based on the area near Paya Lebar air force base, is highly restricted, most of these projects are no taller than five storeys, and fewer than 100 units.

For example, located next to the Tedge freehold Mera East, and it is only 52 units. The Urban Redevelopment Authority data shows, this was built in 2007, House of age 13 years of smaller projects over the past year, three units a price change, feet between $1160 to $1208.

There are also in the vicinity of the Changi road like Millage, Suites@Changi and The Lenox, and other small projects, they house of age is less than eight years, the last year, compared with a total of nine feet, on average, new owners a unit price is $1,278.

Overall, analysts believe that, in the next few months, a local real estate market will be more fully appreciate the impact of the outbreak, which is expected to affect resale market is bigger than the new homes market.

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