Higher and higher prices

Fans of new launches, fasten your seat belts, looks like there is an unabated rise in price.

The reported average selling price of about $1,150 psf for The Scala (99year LH) is about 1.5 times the prices of existing apartments in the area. And yet it is almost sold out, if not already all gone.

The jump in prices are definitely going to flow through into the third quarter private housing statistics.

Separately, the launch price for The Greenwich was at $980 psf on average, rising to $1,025 psf over the weekend - a record for a location so far away from the city centre.

One consultant was spot on when he was quoted as saying "the buyers are those who really like this corner of Singapore".

Moving forward, launches near MRT like Lakeside and Simei could easily be more than $1000psf.