spoken to a few agents and they all tell me that penrose will be launched at 1.7k and above, since oasis is already transacting at 1.6k psf, parc esta selling at 1.6kpsf and above, CDL's project in buangkok priced at 1.8k psf etc..
i mean, if its 1.5k psf, i will definitely wait for it man..
Well that is what is happening in the market now. This help that sell. A help B sell. Now all agents sure be saying.. sengkang already $1.7k psf, of course aljunied/newton/clementi etc can sell even higher LA!
but look at Kopar, it was $1,100 ppr and est breakeven at $1,750. The average launch price at the START of announcement of CB was also $2,350, representing a 35% profit.
given that a) SUO resale is $1,500 and up, b) PE selling well at $1,600 psf average, and c) some more ridiculous RCR new launches at $1,800-$2,000 psf, Penrose may just price up a little bit more than what its land cost affords it.
Just my 2cents
i dont think deveopers will want to be seen as the go-to for dirty-cheap launches.. well dirt-cheap is relative. but $1,400-$1,500 for RCR nowadays is.. quite cheap
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