Savills Singapore, the property consultancy, said that the collective sales from April to June 2007 will yield about $6.4 billion in total proceed or about 2,800 units sold en-bloc for an average price of $2.3 million per unit. (Source: The Straits Times, 19 September 2007).
The property market runs up in prices this year because in part due to those affected by the collective sales who have to find a replacement property. Some were so desperate that they “chased” properties and run around in Singapore to find a suitable property.
Now that Urban Redevelopment Authority (URA) has put up information on property sold for various months on their website, why not study this information before deciding on seeing the next property? This will save you time, effort and heartache. The prices sold were also posted and this will help you decide on whether the price is within reach of your budget.
URA homepage is: www.ura.gov.sg
Written on 9/22/2007 8:37 PM
Copyright © 2007, the author known as LKT in Singapore.
The material presented is intended to be general and written in layman’s language as much as it is possible. The author shall not be liable for any direct or consequential loss arising from any use of material written. Please seek professional advice from your financial advisor or financial institutions on material written covering financial matters.