Upper Thomson: Price gaps between projects to narrow

UPPER Thomson Road may stretch for about 8km, but the price gap among condominiums along the road is "not tenable", according to Savills Singapore.

It believes that property values will rise along the whole corridor over the next 18 months and help narrow the price difference.

From the start of Upper Thomson Road at Braddell Road up to the traffic junction of Sin Ming Avenue and Venus Drive, home prices could reach $1,000 to $1,400 per sq ft (psf), predicted Mr Ku Swee Yong, Savills' director of marketing and business development.

He said prices in this stretch now average $686 psf, with some having gone up by about 30 per cent to 40 per cent in the last year.In the middle portion, between Yio Chu Kang Road and Sin Min Avenue, prices will appreciate owing to the area's proximity to Ang Mo Kio, which is fast being revitalised, he added. Prices in this location could strengthen to between $800 and $1,200 psf, from the current average of $612 psf, said MrKu.

At the northern tip of Upper Thomson Road, around Mandai Road and the Springleaf area, property values are likely to be boosted by new launches of several small projects in the vicinity. This area "offers a slightly different lifestyle where space and landed properties are still abundant", he said.

"Greenies" and homebuyers drawn to boutique landed developments will find this stretch appealing. Average prices in this zone are now $557 psf, Mr Ku said. These could climb to between $600 and $900 psf next year.

Projects in this segment include Bullion Park in Lentor Loop, less than 2km away from Upper Thomson, where prices have risen by 27 per cent in the last year to $630 psf, and Forest Hills Condo, just further up Upper Thomson's northern end, up 20 per cent in price to $483 psf.

Source : Sunday Times - 18 Nov 2007

Email lushhome@gmail.com for more information.