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SINGAPORE - A 710 sq ft two-bedroom condominium unit at Pasir Ris 8 was sold at $1.49 million - or $2,101 per sq ft (psf) - in November 2023, a price almost 37 per cent higher than the launch price in 2021. The unit was the last two-bedder to go in the fullConvenience or its relative rarity? Mixed-use developments gain popularity among Singapore home buyers
SINGAPORE - A 710 sq ft two-bedroom condominium unit at Pasir Ris 8 was sold at $1.49 million - or $2,101 per sq ft (psf) - in November 2023, a price almost 37 per cent higher than the launch price in 2021. The unit was the last two-bedder to go in the fully sold 99-year leasehold integrated development, one of a number of mixed-use projects that saw handsome price hikes shortly after they were launched, checks by The Straits Times found. ST looked at the sales transactions of 11 leasehold condominiums launched in 2021 across different districts and found that mixed-use developments generally saw stronger median unit price growth, compared with purely residential developments. In the case of the Pasir Ris 8 condominium, which is integrated into the recently opened Pasir Ris Mall, a two-bedroom unit was sold at $1.09 million, or $1,537 psf, at its launch in 2021. But there was such strong demand from the outset that the developer raised the selling price for the units six times in a single day during its launch weekend. Read more