SINGAPORE - Private condominiums in the east of Singapore have been the most popular for property investors this year, the Singapore Real Estate Exchange (SRX) said.
While the property market has slowed down, condominiums in the east have not lost their popularity, with Coco Palms in Pasir Ris registering the most sales in the first half of 2014.
According to SRX data, a total of 283 Coco Palms units were sold from January to June, at an average price of $1,109 psf.
Bertram Tian from PropNex told SRX that there were a few reason behind the popularity of Coco Palms. These include competitive pricing and proximity to important transport nodes, networks and schools. Upcoming developments around the Pasir Ris area could have also attracted buyers to the area.
The second most popular condominium this year was The Hillford, which is located near Bukit Timah Road. A total of 234 units at the district 21 estate were sold at an average of $1,103 psf.
SRX's list of top 5 condominiums sold in the first of 2014 is dominated by other condominiums in the east, including Rivertree Residences, Riverbank @ Fernvale and Skypark Residences.
In the rental market, The Interlace near Alexandra fared the best with a total of 240 rentals registered.
SLP Scotia's Pauline Chong said in an SRX interview that buyers are attracted to the brand new facilities at The Interlace. The project is also competitively priced in comparison to more expensive projects in surrounding districts. The wide variety of unit sizes available at The Interlace also makes it appealing to many types of potential buyers.
At second place is luxurious condominium The Sail @ Marina Bay, which saw a total of 202 rentals in the first half of the year. The Sail also registered the highest rental price among the top five most popular condominiums for rent, with an average price of $5.95 psf.
Reflections at Keppel Bay was third most popular with 193 rentals, while Spottiswoode Residences and The Shore Residences registered 193 and 190 rentals respectively.
Click on the gallery below to see the top condos in the sale and rental markets from January to June this year.
SRX Top 5 condos sold
1) Coco Palms, D18, 283 units, 1,109 psf
2) The Hillford, D21, 234 units. 1,103 psf
3) Rivertrees Residences, D28, 229 units, 1.027 psf
4) Riverbank @ Fernvale, D28, 191 units, 1,025 psf
5) Skypark Residences, D27, 187 units. 800 psf
SRX Top 5 condos rented
1) The Interlace, D4, 240 rentals, 3.43 psf
2) The Sail @ Marina Bay, D1, 202 rentals, 5.95 psf
3) Reflections at Keppel Bay, D4, 193 rentals, 4.87 psf
4) Spottiswoode Residences, D2, 190 rentals, 5.16 psf
5) The Shore Residences, D15, 175 rentals, 4.57psf