Suburban property launches 'to cross $1,200 psf': Analyst
Recently sold govt land sites give indication of likely launch prices
Most upcoming suburban condominium launches are likely to breach the $1,200 per sq ft (psf) price threshold, based on an analysis of recently sold government land sites.
Land prices have shot up sharply in recent months as developers remain bullish on the property market despite several rounds of cooling measures.
Out of the 10 99-year leasehold suburban residential sites that have been sold under the Government Land Sales programme since the start of last year but have not been officially launched yet, six are expected to go on the market at above $1,200 psf, according to data compiled by consultancy CBRE.
Two have already started marketing activities over the National Day weekend - Thomson Three in Bright Hill Drive and Skywoods in Dairy Farm Road - with some units going for above $1,200 psf, according to property agents.