Fancy paying $2.42 million for a 2-bedrooms unit. It translate to $2645 psf. This transaction just took place on 3 Dec at The Vermont on Cairnhill.
Then there is this other buyer who got 2 units at one go, paying a cool $8.13 million for each unit ($2950 psf). The units are at Hamilton Scotts.
No thanks to these ultra rich investors/speculators, they are helping to speed up the property bubble burst locally. With low interest rate and so much positive feeling in the property sector, looks like we are heading the way of Japan and US property cliff. Some signs are already there - new home sales for Nov heading a low, high numbers of unsold units in the up end market and so many new launches in the months ahead. Overbuild and undersold ?
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