A common sales pitch is that newer condos tend to outperform older ones; whether due to the shiny newness factor, having newer facilities, or maybe a more suitable, modern layout.
Both condos are situated in District one, Robinson Suites is freehold, while Emerald Gardens is 999-years, which is typically seen to be as good as freehold. Mera Springs was built in 2008, and like most developments, it had a rise in prices during the peak in 2013. This was followed by stagnant growth till a rise in prices from 2018 till the current 2022.
The Total Debt Servicing Ratio was introduced in 2013, and restricted monthly home loan repayments to 60 per cent of the borrowers' income. Unlike previous measures such as the Additional Buyers Stamp Duty , it affected private home buyers across the board - not just investors buying second or third homes, but even first-time buyers or upgraders.
We see the pattern in the Caribbean at Keppel Bay, where prices dipped from $1,556 psf in 2014, before bouncing back to $1,569 in 2018. Its counterpart, Reflections at Keppel Bay, was priced at around $2,088 psf in 2014. It has never recovered to this price point after the cooling measures, and ended 2022 at $1,755 psf.2. We haven't factored in rental