Residential

Shan Gate apartments up for collective sale

The 27-unit 10-storey residential development located along Shan Road near the Novena Medical Hub and the Novena MRT Station is asking for $51.5-53.5 million or $1,010-1,049 psf ppr excluding balcony allowance, or $918-953 psf ppr if included, based on a 2.8 gross plot ratio on the 18,305 sq ft site with a 51,254 sq ft potential GFA. It can potentially be redeveloped into a 36-storey project consisting of 85 600 sq ft units. The tender will close by 3 pm on Sept 18.

(Source: Business Times)

Luxury home prices and rents to continue their decline

Despite the increase in the sales volume of luxury prime properties by 22% to 434 units from Q1 to Q2, average resale capital value of luxury prime properties fell by 2.9% to $2,380 psf, and resale capital values of typical prime properties fell ...