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URA data a boon for property market watchers

THERE has been a general welcome for the release by the Urban Redevelopment Authority of updates on the volume of property transactions and prices of new developer sales for three months now.

URA releases the details of transacted prices of new developments in different price brackets on its website. So for the 536-unit The Cascadia on Bukit Timah Road for instance, it is clear that although the price range of the 162 units launched and sold was between $1,038 and $1,638 psf, 58 units sold were in the $1,000-$1,500 psf bracket while 104 units sold were in the $1,500-$2,000 psf bracket.

‘It’s clear that the median price is leaning towards the higher side,’ said Savills Singapore director of marketing and business development Ku Swee Yong.

These data also reveal interesting nuggets of information like which developments are being launched in phases and which are not.

Projects launched in phases include The Marq on Paterson Hill and Helios Residences. Both still have units not launched.

The Parc Condominium and Soleil @ Sinaran were both launched completely and fully sold. Colliers International director for research and consultancy Tay Huey Ying said that this depends on the developers strategy, ‘cash out in the shortest time or maximise returns via phased launches in a rising market’.

URA Data

Source: Business Times 18 Sept 07

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