THE West Coast pocket that is near Pasir Panjang and the National University of Singapore has always enjoyed strong demand.
Home buyers in this area, which boasts easy accessibility to the Central Business District, are likely to be the least price sensitive, observed Ms Tay Huey Ying, director of research and consultancy at Colliers International.
This district includes projects such as Varsity Park, The Stellar, Blue Horizon and Clementi Woods.
Its outlook for next year is good, said Savills Singapore. It is predicting that prices will rise by some 15 to 30 per cent.
Home prices along the most prime stretch of Pasir Panjang Road to Alexandra Road now averages $1,309 per sq ft (psf), the consultancy said. But they can easily hit $1,500 to $1,800 psf, according to its forecast.
Further west, towards Clementi Road junction, property values could go up to $900 to $1,300 psf, from an average of $785 currently, Savills added.
In this sub-region, projects such as Heritage View and The Maylea have gone up in price by 55 per cent and 40 per cent respectively. They are now well above $800 psf, according to Savills.
At the end of the district, between West Coast Road at the Clementi Road Junction and the Jalan Buroh area, home prices are forecast to hit $900 to $1,100 psf. They are currently at $703 on average, said Savills.
And new launches are expected in this area, it added. They include JTC Corporation's 50-unit Fusionopolis, Aurum Land's 14-unit West-N, Heeton Holdings' 17-unit Juluca, and the former Balmeg Court site acquired by MCL Land.
Source : Sunday Times - 18 Nov 2007
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