Dear readers, recently I read about the sale of a property in a neighbourhood with transaction date of 5 Aug 2021 as follows.
A 947 square foot, 99-year leasehold condominium unit in Treasure At Tampines in District 18 was sold at $1.457 million, translating into a selling price of $1,538 per square foot (psf).
When I read about the above selling price psf, my personal take was that this psf selling price was steep. This is because a similar-size condominium unit in a premium district could be bought at a lower selling price psf, and at around the same selling price.
Take for example, a property transaction with the same property transaction date of 5 Aug 2021 in District 4: a 980 square foot, 99-year leasehold condominium unit in Reflections at Keppel Bay was sold at $1.495 million, translating into a selling price of $1,526 per square foot, lower than the selling price psf for the aforementioned Treasure At Tampines condo unit.
Definitely, Reflections at Keppel Bay is an older condominium which was completed in Year 2011. Definitely, buyers have their own reasons which they would only best know to purchase their properties at certain prices. But right here, I am looking mathematically to compare the aforementioned two selling prices psf. And it is also noteworthy to highlight that the $1.457 million for the Tampines condominium is for a property size that is not comparatively large.
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