Hi,

Why has the price of condos reduced in SAVANNA Executive Suite Southville City, eg 945sq ft 3 years back at 420k, now is ready and cost 270k to 350k ?

Can anyone advise, why the price has reduced and any likelihood of increase soon ?
Thanks.

depending on the phases you bought. block a and block b is sold at cheaper price during launch. around 300k

The issue is those who bought Block A and D bought it between 270k - 330k. Those who bought block C and D bought it in multiples of that - for what essentially is the exact same unit. The designs are exactly the same, except maybe Block A and B share a swimming pool.

Hmm.. i c.. thanks. So there's different prices.

Thanks. So, basically I'm looking at different condos price when checking from propertyguru eg. But does that mean, I can still sell the condo for 430k ? If it's in block C?

depend on the factor to push up the price

Yeah, but the problem is, it's gone lesser than the original (purchase) price of 430k

very common that all developer selling higher price than the actual transacted price. Most important when buy house do survey and analysis first before make the decision.

Its very hard since market average now is below 400k right? I remember seeing some units going below 300k even for 1k sqft+.

Unless there's a big pull towards the area, the price now is most likely going to stay for some time.

Yeah, that's correct, some auction condos asking only 270k. Not sure, what's the underlying reason for such reduction from 430k to 300k. Something to do with location ?

Location, market, current trend. Look at the pull for other auctions in better areas...

Let me share some experience on this..

Usually when you buy the property during the construction phase, the price might not necessary match near to the market price.. By the time, the Occupation Permit or CF is issued, it would then follow the market rate.

There are cases whereby developers pushing for the units to be sold out before the CF in order to avoid this issue.

If when buying got cashback, means that the property price has been inflated to give the cashback. Just my views.