Two prime condominium projects are slated to hit the market in the second half of the year amid a significant pick-up in new private homes sales.
Analysts say the projects – GuocoLand Group’s Martin Modern and New Futura by City Developments (CDL) – are likely to interest local and foreign buyers if developers can price the units “correctly”.
Cushman and Wakefield research director Christine Li believes Martin Modern will be well received, “as the high-end residential market seems to be bottoming”.
Non-landed private home prices in the core central region were down 10.3 per cent as at March 31 from a peak in the first quarter of 2013.
Mr Wong Xian Yang, head of research and consultancy at OrangeTee, said: “Non-Singaporean demand for Singapore properties is also slowly recovering, which bodes well for core central region properties.”
PropNex Realty said the indicative average price for units at Martin Modern is about $2,300 per sq ft. CDL said pricing for New Futura will be determined closer to the launch date.
wongsy@sph.com.sg
This article by The Straits Times was published in The New Paper, a free newspaper published by Singapore Press Holdings.
