According to a CBRE report on March 4, the luxury apartments segment saw an average transaction price of $2,650 psf in 2014, down 6.2% from $2,825 psf in 2013. A total of 136 caveats were lodged in 2014, down 44% from the 243 caveats lodged in 2013, says the property consultant. For new luxury- condo developments, the average price was $2,450 psf, which was skewed by the sale of 51 units at GuocoLand’s 210-unit Goodwood Residence, as the developer tried to beat the June 15 deadline for the Qualifying Certificate, after which the developer would have to pay extension charges for any unsold units.

This article appeared in the City & Country of Issue 667 (Mar 09) of The Edge Singapore.