I don't agree with what you say. OK, let's not compare with NY and London, let's compare with Asian cities like HK, most similar to Singapore. Why HK CCR is 3x that of Singapore CCR prices? And furthermore Singapore condos are way better than HK in terms of number of units (much smaller number of units, more exclusive), design, layout, maintenance, rules & regulations etc! So I believe CCR is way undervalued. Now, in
CCR you can get at $14xx psf (e.g. Aspen Heights, Valley Park). If CCR is way over valued, how do you term
OCR like Bedok Residences transacted at $1350 psf? So OCR is way way over-valued and in super BUBBLE price?
Why you didn't highlight the super bubble OCR price?
lets break this up ...
as what i posted earlier ... CCR is expensive compared to other major cities ..
comparing with HK ...
we have a smaller population.. spore may be smaller in land size but ..buildable land ..HK is smaller ... higher population + smaller buildable land + higher ranking to spore as a cosmopolitan ... HK naturally command higher psf ...
Aspen and valley park are very old ... check out One Jervios ..u cant get it at 1450 psf ...
as for OCR ... Bedok residences is absolutely ridiculous .. i dun know what they were thicking ... but it is ... for OCR 99 LH .. anything above 1000 psf is expensive ...
if HK govt were to allow the public housing in HK to trade how our HDB are doing .. i am sure all the OCR in HK will just be like those OCR in spore too ..if not higher