The Singapore private properties market is show sign of exciting during the second quarter 2009.
During second quarter of the year, most of the buyer go towards mid tier project. However the sale for investment private property project needs more time for sale. The sub sale market seller increased due to the increased sentiment of the domestic projects.
Sub sale are referring to the sale of uncompleted project by the buyers had increase 3 fold to around 1,200 units in second quarter of the year. The popular project are the mid tier as compare to the high end projects.
Centris, One Amber and Casa Merah are the popular choice of sub sale project. Casa Merah were transacted at an average of 0psf with 54 transaction during the second quarter with average psf at 0psf, the price further increase to 0psf in July and August. The most popular sub sale project are Rivergate. The average price for this project increased from 00psf to 00psf in average.
For investment private project, most investors go for the Sail and the Icon. Even though the project is launched in 2003 and 2005, the price increase 25 and 15 percent respectively.
Many investors are buy the sub sale unit.
another reason for the increase of the sub sale market are due to the the many completed project. Most sub sale happen near to the project completion. Also, for the new project that is all sold, some buyers are do not mind paying a much higher price for it.
On the other side, the number of flipping transaction had reduced. Flipping means the reselling of a property in shortest period after buying.
On the careful note, the market fundamentals are still not strong but the market sentiment is bullish. With the unclear market condition, the market may experience a wait and see situation
For more information on Singapore Condominium For Sale and Singapore Condominium For Rent , visit sgpropertylist.com
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