Announcement: Dear Square Foot Research users,
We are currently in the process of migrating a few basic features of Square Foot Research to The Edge Property.
You can now access our research tools and calculators for free on The Edge Property.
Additionally, the new site has also introduced a new 'Edge Fair Value' feature, which gives you an indicative value
based on information provided for subject property. Coupled with proprietary news content and listings information,
The Edge Property strives to be a 1-stop property portal to help users make better decisions. If you are a Real Estate Salesperson,
you will be able to post listings for free. Do visit us at www.theedgeproperty.com.sg
When markets run amok, government policies are expected to provide stability. This was indeed the case when the policy measures first kicked in, starting from September 2009 and culminating in the implementation of the total debt service ratio (TDSR) framework on June 29, 2013. The market then started to respond to these measures and began the long process of detoxification.
On Feb 7, a 4,069 sq ft at Seascape in Sentosa Cove was sold at a $6.6 million loss. The loss works out to 52% or 10% annualised over a holding period of 6.6 years.
The previous owner, a Russian national, bought the unit from the developer at $12.8 million or $3,146 psf in June 2010. The unit was put up for mortgagee sale at an auction in January 2017 at an opening price of $6.8 million but did not find a buyer. It was subsequently sold at $6.2 million or $1,524 psf.