$1,557,270
The median developer price is $2,726 psf, with the cheapest transaction at $2,299 psf, and the highest at $4,213 psf. The second-highest, interestingly, was not located in the CCR. It was a penthouse unit sold at $13.9 million, or about $2,450 psf, in Meyerhouse in District 15.
RV Altitude, which was launched back in April 2019, suddenly managed to clear its remaining 77 units in March
RV Altitude is a small, 140-unit freehold development in River Valley Road. Sales had been slow since 2019, and then this happened in March:
This was due in part to developer discounts:
The median developer price in March was $2,641 psf, down from $2,982 psf from the 2019 launch. The highest price was at $2,966 psf, while the lowest was at $2,446 psf. Not great news for the early buyers.
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Notable issues:
Stellar RV saw some grumbling over pricing when it first launched. Consider the average price for new launches in District 10, back in May 2012:
The average for the district was $1,636 psf. Now look at Stellar RV’s pricing at the same time:
The median developer price was $2,039 psf. Granted, the small unit sizes meant a lower quantum (around $1.2 million) – but the diminishing shoebox trend, along with the notable price gap, already left some market watchers wondering if it had much room to appreciate. This led to a weak initial showing, with only 20 transactions on its launch weekend.
In addition, Stellar RV has only small units. The absolute largest units at Stellar RV are 936 sq.ft., with most units being between 506 to 517 sq. ft. It’s clear that this development is aimed at landlords, who are disinclined to buy in such a weak rental market.
Number of units: 592
Square Foot Research indicated a median developer price of $2,369 psf. The lowest recent price was $2,378 psf, and the highest was $2,604 psf.
Notable highlights:
Amber Park was one of the best known Katong / Marine Parade area condos of its day, so it’s unsurprising its replacement chose to retain the name.
Much like its predecessor, Amber Park benefits from being close to the lifestyle stretch of East Coast Road. It’s only 500 metres, or a four-minute walk, to where the stretch begins (around Katong Shopping Centre). From there it’s family-friendly pubs, restaurants, diners, etc. all the way to the Joo Chiat area.