In current market conditions when home buyers are price sensitive, what will Seaside Residences price be, when it’s touted as ‘a highly-priced rarity’ boasting of ‘seaside’ home having 70% of apartments with direct view of the sea, and 3 minutes’ walk to future Siglap MRT station?
Current Market Analysis for Seaside Residences Price
A recent newspaper quoted a property expert’s expectation of a price between $1500 and $1600 per sq ft (psf) during launch of Seaside Residences.
Indicative price released is from $7xxk for a 1-bedroom, 2-bedroom from $1,0x mil, and $1.5x mil for a 3-bedroom apartment.
Based on this information, we can only use it as a reference to work on how much is your commitment should you own one of these ‘seaside’ apartments.
Starting price is generally for an apartment on level 2, this potentially means view to neighbouring developments or landscaping. It’s likely there will be a ‘jump’ in price for apartments that will get a view of the sea.
Comparing to current launches in the East, Marine Blue and Amber Skye, both freehold developments in Marine Parade, were sold at average prices of $1700 and $1800 psf based on data as extracted from The Edge Property.
When compared to a similar development along East Coast Parkway that receive T.O.P. in 2014, Silversea was transacted at between $1301 to $1429 psf for low (5th storey and below) level apartments for period from Aug 2016 to-date.
Neighbour Costa del Sol had a 1313 sqft apartment on high floor with sea view that changed hands in Jan at $1225 psf.
On transactions in March 2017, the closest match is a 474 sqft unit on level 7 at Fulcrum at $964,000 ($2035 psf). Fulcrum is a freehold development at Fort Road that was completed in 2016. It has unblock sea view facing units on higher floors and is not directly facing East Coast Parkway.
The average price for past six months for Fulcrum is at $1935 psf.
*Note: all data quoted as extracted from The Edge Property as of 24 Mar 2017
Is Seaside Residences worth investing?
If you have been reading my postings, I invite home buyers to share so that I can offer a private residential development that is as close a match as possible to your lifestyle needs.
To me, price is a science that each and every home buyers view it differently.
I’ve provided transaction data for your reference, as price is an important piece of information for most home buyers to decide if this development meet their affordability criteria before they head down to the showflat.
Interested in Seaside Residences?
For project information on Seaside Residences, please click here.
Call Developer’s Appointed Marketing Agent, Poh Lin at tel no. 96700937 or submit the form below to receive full project information including floor plan by developer Frasers Centrepoint, or for showflat presentation and discuss if Seaside Residences suit your lifestyle needs.