How is the property market moving?
The RED Portal has a new feature. It shows the latest 100 transactions compared with the benchmark price (BMP). It gives an idea on the trend of prices in recent transactions for specific projects.
The transaction date shows the lodging of the caveat which can be between 1 to 3 months from the actual date of the initial negotiation.
Latest transactions.
I had recently viewed a 10 yrs old condo 3br unit at 9th flr, the owner was asking for 668k then.
ReplyDeleteIt was sold at 670k in Aug 09. However, another similar unit was previously transacted at 580k.
Finally another unit at 14th flr was transacted 1 mth later in Sep 09 at 620k, high flr (14th sty) with 50k less than lower flr (9th sty).
The new owner (buyer) of that 9th flr unit obviously didn't do his homework to check on the latest transacted price for similar unit with same flr area before making an informed decision to sign on the OTP. The ex-owner (seller) and his agent should be laughing to their bank by now.
His unit doesn't worth that extra 50k as it's facing M'sian railway track and future MRT depot though it has a NS facing and its internal condition was quite ok.