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The Shunfu Ville estate in Bishan has been sold for $638 million, with many of its owners reaping a tidy profit.
The price works out to an average price of $1.782 million for owners of the 358-unit privatised Housing and Urban Development Company (HUDC) estate.
That is almost 50 per cent above the typical value of a unit on its own, said Ms Yong Choon Fah, national director of capital markets at JLL, which brokered the sale.
The landscape of Singapore's property market is changing, with price cuts at new suburban projects, while new sale prices for more central homes have been more stable.
This has led to a growing price gap between downtown projects and those in other parts of Singapore.
Next year's decline imminent, says Maybank.
According to Maybank Kim Eng, there are 5 indications that the Singapore residential market will turn in 2014 due mainly to the effects of thhe QE tapering, "culminating in an expected 10% decline in residential prices."
Spotlight on singapore private residential market
The government's measures to cool the residential property market have had significant impact: Transaction volumes have plunged, new home loan sales have contracted and loan-to-value (LTV) ratios have improved.
"The series of property-related measures taken by the government over the past few years has dampened momentum in the market," said the Monetary Authority of Singapore Financial Stability Review 2013 yesterday.
But the government remains vigilant as price levels remain high, it said.
SINGAPORE — The Republic’s shoreline will be extended by land reclamation, some areas used for military training will be developed for other uses and golf courses will make way once their leases expire.
These are some of the methods the Government will employ to free up land to build more homes — including in three new towns and four new housing estates — and infrastructure to support the projected growth in the population size in the decades ahead.
