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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%
Singapore office rents in central region fall 1.7 per cent in Q1 after rising for 9 quarters
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand