Cairnhill Mansions and adjacent site up for sale – The Straits Times
At owners’ asking price of S$477 mil (S$2,100 to S$2,200 psf ppr), the estimated breakeven selling price for the developer would be around S$2,600 psf to S$2,700 psf net area and the developer will probably need to sell at S$3,000 psf to S$3,200 psf net area for profit. With the 99-year leasehold Cairnhill Nine (by Capitaland) already selling at S$2,500 psf to S$2,700 psf, it seems like our estimated selling price is achievable, considering that this is a freehold land. Total quantum of S$477 mil should not be a problem for cash rich foreign developers or local consortium developers.
New property app allows homeowners to ‘test market’ – Today Online
Well, it looks like a good attempt to challenge the incumbents – PropertyGuru and 99.co, but it is a tough market out there for the online property portal businesses. End of the day, it is the scale, user base and outreach of a portal that counts, if you want to get the highest price out of your property, or get the best bargain for your purchase. Hopefully, this new Soho app has some formula that can disrupt the property portal business and give consumers and agents better value add!