Emerging prime areas challenge traditional districts 9, 10, 11
Realisation of planning vision, new MRT lines, integrated developments spur prices to levels similar to existing prime districts
Singapore
SINGAPORE'S traditional prime districts 9, 10 and 11 are being challenged in their position as the upper echelons of the private housing market not only by new prime areas such as Marina Bay but also by what List Sotheby's International Realty terms "emerging prime areas" such as Tanjong Pagar and Ophir-Rochor Beach Road area.
The firm's analysis of transactions captured by the Urban Redevelopment Authority's Realis system shows that units at Duo Residences in the Beach Road area and Wallich Residence At Tanjong Pagar Centre for instance have sold for S$2,076-2,721 per square foot and S$2,756-3,894 psf respectively in the first quarter of this year.
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