Pasir Ris 8 sales figures and its impact on North Gaia
Pasir Ris 8 has been featured in the news for its record-breaking sales. DBS analysts were able to attribute this as an indicator of an asset bubble. Now that all the transactions have been published, the dust has settled, we are able to examine the sales data at Pasir Ris 8 block-by-block and stack-by stack in an attempt to uncover the truth. And the pricing isn’t too far away from the Yishun condo launch. See more at North Gaia.
This condo is a great example for professionals as well as property seekers, to help them better understand the intricacies and pricing. The fact that all transactions occurred in less than two days eliminates variables such market expectations and time passing, which could cause pricing distortions. The size of the development also means that there are no outliers. Allgreen, a developer, was able multiple times to adjust their prices during the two-day period. This meant that the pricing was accurate and reflected the demand and supply in a functioning market. In other words, it was the actual price or very close to the actual price buyers are willing pay. An unhealthy market would mean that either sellers have too many supplies or that buyers have high demands. In the example of the pandemic toilet paper rush, most shops ran out of toilet tissue because they could not adjust their pricing, even though buyers might be willing to spend more.
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