Sales of Pasir Ris 8 impact on Singapore real estate
Pasir Ris 8 is a new integrated condo that was launched recently. This has caused a DBS analyst to attribute the extraordinary sales to an asset bubble. We decided to dig deeper into Pasir Ris 8’s sales data, block by block, stack by stack, in order to discover the truth and learn from the potential lessons.
This condo provides a valuable case study for professionals and property seekers to understand the intricacies behind pricing. All transactions were completed within two days, which removes variables like market changes and the passing of time. This may cause pricing to be distorted. Also, the development is large enough to average out the outliers. Allgreen, the developer was also able to adjust their prices several times over the course of the two-day period. The caveated pricing accurately reflected market demand and supply, or the price that buyers would pay. A dysfunctional market, on the other hand, meant that sellers had too many supplies and buyers have unreasonable demands. One example: During the pandemic’s initial phase, many stores ran out toilet paper. They couldn’t adjust their prices, even though some buyers were willing to pay more.
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