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April 12, 2012
Most recent update: 11 Nov 2012
# This post has nothing to do with setting the RP or justifying the RP - it is simply about shedding some light on one of the oft made comments people generally make about TC resale prices - that 'they have risen primarily because of the on going en bloc attempt '
Is it true that the rise in resale prices at Tampines Court is primarily due to the current collective sale attempt? It is hard to quantify what effect an en bloc attempt might have, but at least we can start by doing a comparative analysis with other established 99yr leasehold estates in Simei, Tampines and Pasir Ris and see how TC might differ from the general trend.
So here it is:-
I have used average monthly resale $psf between Jan 2008 and Oct 2012 . Where no data was available (no sales) I have used averages (to avoid gaps in the graph).
There is an obvious pattern here; all estates have experienced a steady rise in price psf and you cannot tell by simply looking at the chart which estate is going through an en bloc. No estate deviates from the norm to such an extent as to warrant a question mark. As they say, a rising tide lifts all boats.
TC does not seem to be advantaged nor disadvantaged by the ongoing collective sales attempt.
It is no surprise that the 3 oldest estates (TC, Loyang Valley and Elias Green) have the lowest psf, not forgetting of course TC is the only estate without any of the usual condo facilities. Our draw is location, unit size, low maintenance fee and space. Even still, we are closing the gap -which may or maybe not be due to the mysterious 'EP'.
The 'en bloc potential' cannot be discounted as a contributing factor but then again, it may be a contributing factor to some degree in the other estates, too, for all we know.
There have been 12 unit sales so far this year.
In round 1- there were no unit sales between Oct 2006 and Aug 2008 and so as the market rose, TC was left behind.