It seems that there is a bleak outlook on Sentosa for home sales, even though elsewhere seems to be experiencing a growth in the demand for higher end homes, which includes District 4’s surrounding areas.
According to data provided by SRX Property for Pavilion at Potong Pasir, in the 2nd Quarter Keppel Bay’s Caribbean sold close to 10 units, a figure that was up the 1st Quarters 3 sold.
Going by lodged caveats, the primary market was 8 units being shifted at Keppel Bay’s Corals during the 3 month period to June 30th, a figure that was up from one in the 1st Quarter for Pavilion at Potong Pasir.
Pavilion at Potong Pasir
The Sentosa area really is the only place in Singapore where one can get this quality of assets so close to the sea and the central business district. One real estate salesperson believes that prices have fallen as far as they can go now and are not likely to fall further.
One example could be seen in the two units that were sold at Caribbean for an average figure of $1,456 per square foot last month, a figure that was much lower than the 5 units sold in June 2013 for an average of $1,648 per square foot.
Potong Pasir Condo
Developer GuocoLand recently stated that it had witnessed a rise in sales for its Leedon Residence project in District 10. The project recently acquired its TOP (Temporary Occupation Permit) on the 15th of June. During the past 6 weeks the developer has sold 24 units, a transaction value that is worth over $110 million in Pavilion at Potong Pasir.
To date, 181 of the luxury project’s 381 units have been sold for close to $1,800 to $2,500 per square foot. The projects has 2 to 5 bedroom flats that have a range from 1,000 to 8,000 square feet.
Potong Pasir Mix Development
There will always be a shadow of doubt by some buyers, more so those individuals having an ultra high net worth, when investing off plan. One analyst shared that, with a project that has been completed, they can gain a clearer picture of whether a property was a good value for the money paid for Pavilion at Potong Pasir.