The rate of increase was 16% and a subject of envy by neighbouring projects.

However, the high growth rate of Kovan Melody may be isolated due to its unique attributes, such as being newly completed and near amenities. Older projects away from amenities are not as fortunate, showing only minimal price rise. For example, Central View in the same district only registered a 6% price rise between the last quarter of 2006 and second quarter of 2007.

However, on the whole private condos and apartment are enjoying the highest quarterly price appreciation in the second quarter of this year. Average prices have risen by 7.2% compared to the 2% rise in the first quarter of this year.

However, the performance of individual estates tells a different story. Though prices across the board are trending up, the price movement is unevenly.

District 5 achieved the steepest rise with median prices rising by 46% from the lowest ebb in the third quarter of 2005 to second quarter of this year.

Median prices in District 22 rose by 42%; District 21 by 41%, District 27 by 16%, District 18 by 13%; while the rest registered a single-digit price appreciation. (27 September 2007)

Edited by Sam Gian – Independent Real Estate Sale Consultant & Trainer