Value buys of the week – July 30, 2021
By Felicia Tan
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - According to research conducted by CBRE in an article in 2019, Singapore’s property prices are among the highest per sq ft (psf) in the world. With the housing market heating up in the last 6 months, are there still deals in the market? We looked through thousands of transactions and sniff out still-affordable deals among condominium developments, HDB apartments and landed properties. (See: Check all latest market trends in Singapore)
In these transactions, we believe that the buyers have received more than a fair share of the bargain. To potential property seekers out there, don’t lose hope with the ever-increasing prices, as there are still deals to be found!
According to data from July 13 to July 30, we found these irresistible deals transacted for a condo unit in the core central region (CCR), a five-room apartment located in central Toa Payoh for less than $900,000 and a freehold terrace house for slightly over $2 million.
Freehold condo unit sold for $1,497 psf in CCR
The Axis and Mandale Heights. Photo: Samuel Isaac Chua / EdgeProp Singapore
A 818 sq ft ninth-floor unit at The Axis changed hands for $1.23 million, or $1,497 psf, according to a caveat lodged on July 13.
While the latest transaction is slightly higher than the average of $1,402 psf for the development, it’s considered a bargain next to the average price of $2,037 psf for resale units in the core central region (CCR) in 2019.
The Axis is a freehold boutique development developed by Novelty Asia with 52 units across 15 storeys.
It is located on Mandalay Road, in District 12, where it enjoys close proximity to several amenities including Balestier Plaza, Zhongshan Mall, Shaw Theatres Balestier, as well as Tan Tock Seng Hospital.
It is also located near several MRT stations including Novena, Toa Payoh and Farrer Park.
Five-room unit in Toa Payoh with 75 years of lease remaining sold for $870,000
Photo: Samuel Isaac Chua / EdgeProp Singapore
A five-room unit measuring 1,313 sq ft in Lorong 2 Toa Payoh was sold for $870,000, or $663 psf, according to a caveat lodged on July 21.
Located on the 12th floor, the block, which has a mix of four- and five-bedroom units, has 75 years left on its 99-year lease, starting from 1997.
The apartment is located within walking distance to Toa Payoh MRT and Toa Payoh Central. It is also located near four hawker centres including Toa Payoh West Market and Food Court.
Prices for units within the same block have gone for as high as $935,000 previously. The transaction was for a unit between the 25th to 27th floor, took place in 2017.
Terrace house on Phoenix Garden sold for $2.32 million
Photo: Google Maps
A freehold terrace house on Phoenix Garden has been sold for $2.32 million, according to a caveat lodged on July 23.
The price translates to $1,288 psf over a unit area of 1,801 sq ft.
The terrace is located within walking distance to Bukit Panjang MRT station on the blue Downtown Line (DTL), as well as Junction 10.
Looking for your next home? Use our property search feature. To compare prices, we've got you covered with our Shortlist tool, where you can sort projects according to specifications such as price psf, tenure, and more.
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