Collective sales push up private home resale prices

The collective sale of Royalville was awarded at $1,960 psf ppr, and that of Amber Park, at $1,515. Analysts say resale prices of existing homes are being driven up by strong demand for replacement homes.
The collective sale of Royalville was awarded at $1,960 psf ppr, and that of Amber Park, at $1,515. Analysts say resale prices of existing homes are being driven up by strong demand for replacement homes.PHOTOS: CREDO REAL ESTATE, KUA CHEE SIONG
The collective sale of Royalville was awarded at $1,960 psf ppr, and that of Amber Park, at $1,515. Analysts say resale prices of existing homes are being driven up by strong demand for replacement homes.
The collective sale of Royalville was awarded at $1,960 psf ppr, and that of Amber Park, at $1,515. Analysts say resale prices of existing homes are being driven up by strong demand for replacement homes.PHOTOS: CREDO REAL ESTATE, KUA CHEE SIONG

Districts 15 and 10 see marked rise in prices after sale of Amber Park and Royalville

Resale prices of existing condos and private apartments in District 15, which includes the Katong and Amber Road areas, as well as District 10 have risen significantly following news of the Amber Park and Royalville collective sales last year.

Edmund Tie & Co's caveats analysis of URA Realis data also showed that in some instances, prices of larger units in the resale market have seen a bigger price hike compared with smaller units.

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A version of this article appeared in the print edition of The Straits Times on April 09, 2018, with the headline 'Collective sales push up private home resale prices'. Print Edition | Subscribe