Issue 106

Copyright 2011-2013 www.Propwise.sg. All Rights Reserved.

CONTENTS
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7 Red Flags to Watch Out for When Buying USA Property

FROM THE

EDITOR

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p12 p13 p19

Are the Effects of 7 Rounds of Property Cooling Measures Wearing Off? Property Renting Tip #11: What if your rental

Welcome to the 106th edition of the Singapore Property Weekly.

Hope you like it!

Mr. Propwise

apartment is undergoing Enbloc?

Singapore Property News This Week Resale Property Transactions (May 15 May 21) Advertise
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SINGAPORE PROPERTY WEEKLY Issue 106

7 Red Flags to Watch Out for When Buying USA Property

By Gerald Tay (guest contributor)

In this article, I would like to provide you with more specifics on the USA real estate market, and educate those who have intentions to invest there. I hope this article will help you to separate the Truth and the Hype about investing in the USA real estate market, and provide a more credible source of advice than that from a salesperson.
The advice and tips are below have been put together with the help of my partners who are American locals and professional real estate investors themselves with more than 30 years of investing experience in the USA. The advice below can also be generalized to other large mature overseas real estate markets, such as Western Europe.
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SINGAPORE PROPERTY WEEKLY Issue 106 There are a few red flags you should be aware of as a foreign investor who wants a predictable, safe property investment as part of your retirement portfolio. If you come across any of the below, say sayonara and walk out of the room. 1. The rental is higher than market rent and guaranteed by the government Theres always a good reason why something is cheap and guaranteed. Theres a housing program in the USA called Section 8 housing or the Housing Choice Voucher Program. This program is also used in other countries such as Brazil to house its large homeless population. Section 8 is a U.S. government housing subsidy program to help people who dont make very much or any money. They generally have unstable income as well, and no credit or bad credit. Essentially the local
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government agrees to pay some portion of their rent (usually 60% to 90% of rent) directly to the landlord. The government will pay landlords higher than market rents to attract and compensate them for taking on higher risk tenants. Theres no free lunch in this world. Even for experienced local American investors, many are shunning such types of properties for the many drawbacks and disadvantages of owning one, even though they can be very cheap. As a Section 8 property owner, you will enjoy less freedom and will have to follow a stricter set of government laws and regulations. On top of it, there are compulsory stringent inspections made by home inspectors. Your rent is absolutely controlled by the local housing authorities, and you could also incur high vacancy losses due to complex procedures for the next tenant to be
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SINGAPORE PROPERTY WEEKLY Issue 106 approved. You will also have to deal with the not-so-nice tenants who destroy your property because they dont own it, and worse, hefty fines if your property does not meet the stringent regulations. As a foreigner buyer, you want to check if the cheap property on sale is a Section 8. Unless you are a local who stays there and can oversee the entire tedious process of property management such as screening the tenants, property upkeep and the other active property work involved, Section 8 properties are NOT for the busy part-time foreign investor who wants a safe hassle-free investment. 2. Beware claims that properties with high cash flow equal quality investments Never confuse cash flow with quality, because cash flow on paper doesnt tell the whole story. Older, low-quality properties require more repairs, and have frequent tenant turn-over. These things not only cost you money, but time. In addition, a low-quality property wont appreciate as rapidly as a high-quality property. 3. Beware claims of motivated sellers who offers bargain properties at below value What exactly makes a property a bargain? By definition, a bargain property has an appraised or estimated value above what you paid for it, i.e. a single family home appraised at $100,000 that you purchase for $80,000. The catch is this: if no one is offering to pay $100,000, then the property is NOT actually worth $100,000.
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Beware of local seminars and exhibitions marketing such low-quality properties on dreams of owning multiple properties to the unknowing mass market investor at inflated prices of USD$10,000 to USD$40,000 with promised fixed yields as high as 20% a year.
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SINGAPORE PROPERTY WEEKLY Issue 106 (And if they are, your $80,000 bid will be ignored.) If you purchased a $100,000 property for $80,000, youve just bought a property worth guess what - $80,000. the deal of the century for it to work for you. For example, an investor emailed me recently and said, I read an article in the newspaper that said New York was one of the best markets to invest in real estate today. Why dont I just invest in New York, and ignore the other states? First, what suddenly turned New York into one of the best markets in the country? Prices shot up dramatically in the past year, which meant that it was no longer a great place to buy. He was shooting himself in the foot! Second, who cares about the article? Next week there will be article about Detroitand the week after that, Memphis, and the week after that after.you get the point.. Trying to keep tabs on the best markets in a huge country like the USA is a big waste of your time. Its more important to find one good market, buy there, and stay there.

What does it mean when the seller is motivated? It means he has a property he cant get rid of, or that he needs to sell so quickly hes willingly to discount the price or offer concessions. Too often, the truth behind the motivated seller is that the property is not a good investment. If it wasnt a good investment for him, it probably wont be for you.
Quality properties in good markets dont have motivated sellers. And I only recommend foreign investors to buy quality properties in good markets. 4. Beware of buying overseas properties in the best markets

A successful property deal doesnt have to be

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SINGAPORE PROPERTY WEEKLY Issue 106 5. Beware of buying freehold land and property marketed as affordable Believe it or not, anyone can own an acre of freehold land (43,560 square feet) for just USD$10,000. Thats only USD$0.22 per square foot! In huge countries like USA with an abundant land supply, its never the worth of the land that matters, but what is built on that piece of land that will be profitable. You can also own a freehold landed property for as low as USD$1 per property and there are many such properties available for sale in the different US cities. i.e., Detroit. (Now you know how some property gurus can claim to own 100 properties) You have to think logically and wonder why many foreign investors are getting plucked by some of these land banking companies and property gurus who are re-selling these
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cheap junk at inflated prices to the unknowing foreign investor. 6. Beware of cheap properties that claim to come with high returns For a predictably safe, quality and profitable rental property such as Single Family Homes, you should aim for high-quality homes in the range of USD$100,000 to USD$180,000. Such properties are located in very good neighbourhoods with a good tenant profile, typically the affluent middle-class American family. The net rental yield will be between 7% to 10%, which is a safe and profitable investment margin for many USA professional investors. Do AVOID those that are marketed below this price range and claim to give 20% return a year.

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SINGAPORE PROPERTY WEEKLY Issue 106 7. Beware of buying condominiums or homes in prime city areas Firstly, experienced American investors would normally go for Single Family Homes located in good sub-urban areas, simply because they are the stuff of which the American Dream is made of. Secondly, condo expenses can be very high and may not justify a good rental yield. Thirdly, the investment numbers dont make sense. If a condo is still your preferred choice, ensure that you do buy a re-sale in the suburban areas of Sun Belt regions instead of buying a brand new development near or in the city where prices can be inflated. My personal tip for buying overseas property If the local pros are not buying it, you should avoid it as a foreign investor.
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There are many types of properties you can choose from, especially in a complex real estate market like USA. The pros are going to beat you to the best stuff, and you, the busy part-time foreign investor will get the leftovers. However, with the correct education and knowledge from a credible source, choosing the right property type in complex foreign markets will help you ensure a long-term sustainable investment and build your wealth. As they always say, if you want to score an A in Math, youll only learn from the A math student, and not the C student.

By guest contributor Gerald Tay, CEO of CREI Academy Group, who exposes widelyheld property investment myths that have proven highly ineffective in creating wealth, and prevent a comfortable retirement for the ordinary investor.
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SINGAPORE PROPERTY WEEKLY Issue 106

Are the Effects of 7 Rounds of Property Cooling Measures Wearing Off?

By Mr. Propwise

Its been almost five months since the announcement of the seventh round of property cooling measures by the government, which imposed steeper stamp duties and lower loan-to-valuations for mortgages. Have the measures had their intended effect to curb the rapid rise of property prices in Singapore?
2013Q1 URA PPI moderated, but prices accelerated in April If we look at the 0.6% increase in the 2013Q1 URA Property Price Index, a slowdown from the previous quarters 1.8% increase, it might appear that the cooling measures have had some impact to slow the growth of property prices. But the recent flash estimate of the Singapore
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SINGAPORE PROPERTY WEEKLY Issue 106 Residential Price Index (SRPI) published by the Institute of Real Estate Studies at the National University of Singapore indicated that home resale prices accelerated to a 1.9% increase in April, compared to a 1.1% increase in March. In particular, prices of private homes in the Outside Central Region rose the fastest by 2.4%, while homes in the Central Region rose by 1.3%. Even prices of shoebox units (defined by the SRPI as units of size 506 square feet and below), also increased by 1.8% versus the 0.8% increase in the previous month. Resale transaction volumes picking up Looking at the volumes of private residential property sales tells a similar story of a property market that is raging on, shrugging off whatever shackles the government has been trying to throw on it. After a dip in February due to the market uncertainty of the impact of the seventh round of measures, volumes recovered strongly in March. While there was a dip in the total transaction volumes in April, likely due to a fall in the amount of new launches by developers, resale volumes have been steadily recovering with an estimated increase of 20% in April after a 65% increase in March.

Figure 1 Monthly Residential Sales Volumes (from PropertyMarketInsights.com)

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SINGAPORE PROPERTY WEEKLY Issue 106 Real estate agency PropNex has been quoted as saying that resale transaction volumes also increased by roughly 20% in May, continuing this trend of recovery. Anecdotally, they said that buyer inquiries and the number of viewings have also improved due to the buyer perception of better value and rental yields in the resale market. All of the above suggests that after a brief respite in February, market volumes and prices are roaring back. This is despite seven rounds of property measures which have greatly increased the transaction costs of buying property and reduced the leverage that buyers can take, the constant government naggings to talk the property market down, the slowing growth rate of the non-Singaporean population, and in the face of the large supply of more than 100,000 residential units (including public housing) in the pipeline.
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I believe that this goes to show the overwhelming impact that ultra-low interest rates have had on the market, which have distorted asset prices and created an insatiable hunger for yield and an expectation of unstoppable price increases in the minds of buyers. Developers setting lower prices for new launches?

But with many properties now only offering yields of 2% to 3%, what happens when mortgage rates normalize back to 4%? Things may already be changing at the margin, with the United States Federal Reserve now suggesting that its easy monetary policy may eventually be tapered off.
While demand for property is still strong, buyers are increasingly becoming more selective and going into bargain hunting
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SINGAPORE PROPERTY WEEKLY Issue 106 mode. We are also seeing signs of developers reacting by reducing launch prices. For example, CDL launched the 616-unit Jewel near Buangkok MRT over the weekend, pricing it at around S$1,100 per square foot, around 15% below that of new projects one MRT stop away on both sides (i.e. between Sengkang and Hougang stations). We may be entering an environment where developers can still sell units but only at the right price. Meanwhile, watch out for a potential eighth round of property measures from the government. Perhaps eight will be the lucky number (at least for property buyers)?

By Mr. Propwise, founder of top Singapore property blog Propwise.sg, a Chartered Financial Analyst and resident real estate analyst at PropertyMarketInsights.com, a site to help property owners and investors make profitable decisions in uncertain times.
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SINGAPORE PROPERTY WEEKLY Issue 106

Property Renting Tip #11: What if your rental apartment is undergoing Enbloc?

In the event your rented property is to be sold for enbloc redevelopment, you can give your Tenant three to six months notice in writing to terminate the Tenancy Agreement. Do ensure this consideration is included in the TA when your unit is undergoing enbloc.You do not want to be in a situation where you have to pay compensation to the Tenants when you are not able to fulfill the lease agreement.

By Eileen Tan and Ui Wei Teck, property investors and authors of Enjoying Mid-Life Without Crisis. This tip and dozens more are from their book.

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SINGAPORE PROPERTY WEEKLY Issue 106

Singapore Property This Week

Residential
Developers optimistic about EC market Provisional results on 31 May 2013s tender for an EC site in Sengkang showed developers confidence about prospects for this market segment, despite measures introduced in January. More recently, there have been strong hints from the government that it will change its housing subsidy of up to $30,000 for first-time buyers who pick up an EC unit from a developer. At the tender closing on 31 May, a 99-year EC site in Anchorvale Crescent drew a top bid of $330.65 psf ppr from Qingjian Realty (South Pacific) Group. Colliers International noted that the healthy participation rate as well as
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the robust competition among the top bidders signified developers optimism towards the EC market. Jones Lang LaSalle noted that the $331 psf ppr top bid surpassed the $296.48 psf ppr for the Sengkang West Way site last November by 11.5%, suggesting that EC land prices in this part of Sengkang are on the increase due to stronger demand by developers. The site tendered is near Farmway LRT Station and Sengkang Riverside Park. Qingjian Realty (South Pacific) Group forecasted the average selling price for the project to be in the $730-780 psf range. (Source: Business Times)

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SINGAPORE PROPERTY WEEKLY Issue 106 8,000 SBF, BTOs for sale HDB has put 8,000 flats up for sale in a joint BTO and SBF exercise. 4,900 BTO units are on offer across five non-mature estates: Choa Chu Kang, Hougang, Jurong West, Sembawang and Woodlands. The remaining 3,100 are balance flats spread across 26 mature and non-mature estates. For the BTO projects, 682 three-room to five-room flats in Choa Chu Kang are offered at $140,000 to $308,000. 292 studio apartments in Hougang are priced from $76,000 while 314 three-room and four-room units on average cost $171,000 and $268,000 respectively. There are 478 two-room to four-room flats offered in Jurong with prices starting at $94,000 for the two-room units and $260,000 for the fourroom flats. Three projects were launched in Sembawang situated between Sembawang Road and Sungei Simpang Kiri. A total of 2,116 two-room to five-room units are up for
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sale, with prices starting at $82,000 for tworoom flats, and $314,000 for the five-room units. The final project is in Woodlands, with 1,018 three-room to five-room flats for sale, whose prices range from $133,000 to $276,000. Under the SBF exercise, flats vary in sizes and are spread out across the island, ranging from a $145,000 two-room flat in Pasir Ris to a $760,000 executive flat in Queenstown. For this latest launch by HDB, there are three new housing measures. First, the Parenthood Priority Scheme will enable married couples who are expecting their first child and are buying their first flat to benefit from a quota of 30% of BTO flats and 50% of SBF units. Second, two- and three-room flats in nonmature estates set aside for second-time buyers who wish to downsize have been doubled from 15% to 30%, 5% of which will be reserved for divorcees or widows with
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SINGAPORE PROPERTY WEEKLY Issue 106 children below 16 years old. Under the third new scheme, HDB will set aside 50% the studio apartments for elderly buyers who wish to downsize from their current home nearby. (Source: Business Times) Effects of Jan cooling measures unclear: NUS A paper from NUSs Institute of Real Estate Studies (IRES) argues that it is unclear that the cooling measures announced in January have been successful in mitigating home price inflation. It was found that while price volatility seemed to have reduced due to earlier policy measures, the magnitude of month-on-month price changes has increased for the overall SRPI since October 2012. Knight Frank suggested that this could be due to a high proportion of buyers who are investors of completed homes in Central Region. IRES argued that following the latest January measure, transaction volumes and prices fell in February but have since recovered thanks to the strength of the housing market in Non-Central Region, with its 13.5% year-on-year increase, compared with a 3.2% gain for the Central Region. Flash estimates from IRES on 28 May 2013 showed that the overall SRPI grew 1.9% month-on-month in April. The Central Region sub-index climbed 1.3%. In the non-Central Region, prices climbed 2.4% after dropping 0.2% in March. Year to date, the biggest increase of 5% has been recorded for the small unit sub-index followed by Non-Central Region (3.9%). Prices in Central Region have appreciated 1.6%, while the overall SRPI increased 2.8%. (Source: Business Times)

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SINGAPORE PROPERTY WEEKLY Issue 106 Market welcomes once again House of Tan Yeok Nee The House of Tan Yeok Nee, a gazetted national monument along Penang Road, is back on the market. Its owner ERC Holdings, which purchased the freehold property at slightly over $60 million last year, is believed to be looking at over $100 million. The House of Tan Yeok Nee was built in 1880s and named is named after a wealthy Teochew businessman, and was restored in 2000. The property sits on land of about 32,000 sq ft with a strata area of about 58,000 sq ft and its net lettable area at about 23,000 sq ft. The property is currently fully leased to the University of Chicago Booth School of Business, and the lease will run out in 2015. The tender for The House of Tan Yeok Nee will close on July 5. Commercial Offices in Spore among the costliest in Asi-Pac region

(Source: Business Times)

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Despite the downward trend in Spore prime office rents, they remain among the highest in the Asia-Pacific region. Hong Kong, Tokyo and Singapore were ranked as the three most expensive office locations among 28 AsiaPacific cities in 1Q13, according to the Commercial real estate consultancy Colliers International. Q1 annual gross rents of Singapore's CBD Premium and Grade A office space were US$81.19 psf, with a q-o-q fall of 2.4% from US$83.21 psf in 4Q12. The average monthly gross rents of Singapore's CBD Premium and Grade A office space eased by 0.7 per cent q-o-q to S$8.41 per sqf end of March, whereas Grade A office rents in Hong Kong only rose q-o-q by 0.03% in 1Q13.
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SINGAPORE PROPERTY WEEKLY Issue 106 The office rent differential between the cities has increased from 35.6% in Q4, 2012, to 39%in 1Q13. Colliers predicted rents to continue sinking and cited, however, that rental demand in Singapore could rise due to its regional hub status and the upturn in its economy. (Source: Business Times) Freehold building up for sale with $37m reserve A freehold industrial building off Paya Lebar Road is up for sale by public tender at a reserve price of $37 million. Henley Industrial Building, which is located at a 27,161 sq ft site and has a plot ratio of 2.5, works out to a cost of $545 psf ppr. No development charge is payable for the four-storey development, which now has 17 industrial units and is zoned "Business 1". CBRE, which is handling the sale, said that the breakeven cost for the
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site was $792 psf. Similar units such as Primex and AZ@Paya Lebar have been sold at between $850 and $1,300 psf. CBRE also noted that companies were increasingly looking to own their own premises given the current low interest rate environment. The area is close to major public transportation nodes, including the Bartley MRT station, and the upcoming Paya Lebar Commercial Hub is a short drive away. The tender closes at 3pm on July 5, 2013. (Source: Business Times) Over longer term, Marina Bay rents will head north Rents at Marina Bay are expected to head north following a period of consolidation even as businesses are drawn south to Marina Bay from the CBD. Average gross rents for Grade A offices in Marina Bay were 17.5% higher than those at Raffles Place in 1Q13,
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SINGAPORE PROPERTY WEEKLY Issue 106 at $10.12 psf per month versus $8.61 psf per month in the CBD. CBRE noted that Marina Bay has historically commanded higher office rents due to its large floor plates of more than 30,000 sq ft, which are ideally suited to the requirements of major multinational companies and financial institutions. Rents in Marina Bay are expected to creep upwards from 2014 after this period of consolidation. CBRE predicted rents in the Marina Bay area to breach $12 psf over the next two to three years, given the limited supply in the area. As for the residential component M+S noted a healthy interest for the residences, which range from one- to four-bedroom units, including penthouses. Comprising 1,042 units, Marina One Residences is slated to be launched in H2 this year. On the office front, Marina One will offer floor plates of up to 39,000 sq ft, and two highdensity floors of about 100,000 sq ft each, located on higher floors. (Source: Business Times)

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SINGAPORE PROPERTY WEEKLY Issue 106

Non-Landed Residential Resale Property Transactions for the Week of May 15 May 21
Postal District 2 3 3 4 4 4 5 5 5 5 8 9 9 9 9 9 9 9 10 10 10 10 10 10 Area Transacted Price Tenure (sqft) Price ($) ($ psf) 1,033 1,095,000 1,060 99 1,195 1,630,000 1,364 99 1,647 2,110,000 1,281 FH 1,722 3,984,040 2,313 99 2,540 4,580,000 1,803 99 1,206 1,950,000 1,617 99 958 1,300,000 1,357 99 807 920,000 1,140 99 1,302 1,280,000 983 99 1,227 1,158,000 944 99 1,356 2,020,000 1,489 99 1,281 4,250,000 3,318 FH 1,658 4,050,000 2,443 FH 743 1,620,000 2,181 FH 1,012 1,880,000 1,858 FH 1,173 2,050,000 1,747 FH 538 870,000 1,616 FH 840 1,255,000 1,495 FH 2,885 9,550,000 3,311 FH 4,112 12,952,800 3,150 FH 2,260 5,650,000 2,500 FH 4,187 8,292,240 1,980 FH 1,066 1,938,000 1,819 FH 1,841 3,131,500 1,701 FH Postal District 10 11 11 11 12 12 12 12 13 14 14 15 15 15 15 15 15 15 15 15 15 15 15 16 Area Transacted Price Tenure (sqft) Price ($) ($ psf) 2,002 2,610,000 1,304 999 1,141 2,100,000 1,841 FH 1,539 2,750,000 1,787 FH 1,249 2,200,000 1,762 FH 926 1,285,000 1,388 FH 926 1,270,000 1,372 FH 743 810,000 1,091 FH 2,669 1,880,000 704 FH 1,206 1,650,000 1,369 FH 980 960,000 980 99 1,216 1,070,000 880 99 915 1,380,000 1,508 FH 1,130 1,510,000 1,336 FH 807 1,050,000 1,301 99 1,765 2,280,000 1,292 FH 969 1,235,000 1,275 FH 1,528 1,938,000 1,268 FH 1,776 2,250,000 1,267 FH 1,152 1,430,000 1,242 FH 1,356 1,650,000 1,217 99 1,087 1,255,000 1,154 FH 1,238 1,250,000 1,010 FH 1,270 1,050,000 827 99 1,238 1,650,000 1,333 99

Project Name INTERNATIONAL PLAZA QUEENS THE ANCHORAGE REFLECTIONS AT KEPPEL BAY REFLECTIONS AT KEPPEL BAY CARIBBEAN AT KEPPEL BAY ONE-NORTH RESIDENCES REGENT PARK VISTA PARK WEST BAY CONDOMINIUM CITYLIGHTS HELIOS RESIDENCES PATERSON RESIDENCE VISIONCREST URBANA LUMA MACKENZIE 88 MACKENZIE 88 ARDMORE PARK 8 NAPIER FOUR SEASONS PARK GALLOP GREEN BELMOND GREEN ONE JERVOIS

Project Name RIDGEWOOD RESIDENCES @ EVELYN RESIDENCES @ EVELYN NEWTON 18 CASA FORTUNA CASA FORTUNA MOONSTONE RESIDENCES PARC HAVEN BLOSSOMS @ WOODLEIGH SIMSVILLE SIMS RESIDENCES EAST GALLERIA VERSILIA ON HAIG CASUARINA COVE CASA MEYFORT THE BEACON EDGE THE AMBROSIA BUTTERWORTH 8 PARADISE PALMS SANCTUARY GREEN THE ESPIRA CHELSEA LODGE NEPTUNE COURT COSTA DEL SOL

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SINGAPORE PROPERTY WEEKLY Issue 106

Postal District 16 16 16 16 16 17 17 18 18 19 19 19 19 19 19 19 20 20 21 21 22 22 22 22 22 22 22 Area Transacted Price Tenure (sqft) Price ($) ($ psf) 936 1,190,000 1,271 99 1,012 1,280,000 1,265 FH 980 1,220,000 1,246 FH 1,313 1,400,000 1,066 99 1,012 1,050,000 1,038 99 1,335 1,280,000 959 FH 1,485 1,040,000 700 99 1,324 1,345,000 1,016 99 3,444 2,400,000 697 99 850 1,060,000 1,247 999 1,432 1,680,000 1,174 99 1,141 1,100,000 964 FH 1,507 1,450,000 962 99 1,130 1,018,000 901 99 980 873,000 891 99 1,152 978,000 849 99 936 1,123,200 1,199 99 1,862 2,025,000 1,087 FH 969 1,130,000 1,166 FH 1,055 1,138,000 1,079 FH 936 1,200,000 1,281 99 1,066 1,285,000 1,206 99 1,173 1,380,000 1,176 99 1,238 1,238,000 1,000 99 1,001 790,000 789 99 1,701 1,340,000 788 100 1,884 1,200,000 637 99

Project Name BAYSHORE PARK BLEU @ EAST COAST LANDBAY CONDOMINIUM THE CLEARWATER THE BAYSHORE EDELWEISS PARK CONDOMINIUM LOYANG VALLEY LIVIA CHANGI RISE CONDOMINIUM FONTAINE PARRY KOVAN MELODY HILLSIDE MANSIONS THE SUNNYDALE CASA ROSA REGENTVILLE REGENTVILLE BISHAN POINT FLAME TREE PARK SYMPHONY HEIGHTS SIGNATURE PARK THE CENTRIS THE CENTRIS THE LAKESHORE LAKEHOLMZ LAKEPOINT CONDOMINIUM IVORY HEIGHTS LAKEPOINT CONDOMINIUM

Postal District 23 23 23 23 23 23 25 26

Project Name GLENDALE PARK HILLINGTON GREEN HAZEL PARK CONDOMINIUM GUILIN VIEW GUILIN VIEW REGENT GROVE ROSEWOOD CASTLE GREEN

Area Transacted Price Tenure (sqft) Price ($) ($ psf) 1,033 1,110,000 1,074 FH 1,755 1,877,850 1,070 999 1,528 1,490,000 975 999 1,281 1,188,000 927 99 1,679 1,480,000 881 99 1,195 930,000 778 99 1,173 980,000 835 99 947 900,000 950 99

NOTE: This data only covers non-landed residential resale property transactions with caveats lodged with the Singapore Land Authority. Typically, caveats are lodged at least 2-3 weeks after a purchaser signs an OTP, hence the lagged nature of the data.

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