Review on (D10) The Mercury - 38 Shanghai Road

Review on (D10) The Mercury - 38 Shanghai Road - Above #15 [SOLD!!!]

Basic Details of Development:
District 10 (Central Region)
Tenure: Freehold
Total Number of Units: 67
Highest Floor: #18
TOP: 2014

This unit is priced to sell by the seller. The unit that I am marketing is a 1 bedroom + 1 study unit of size 635sqft. The price expected by the seller is in excess of $980,000. Whilst I had a few enquiries on this unit, buyers often felt that the price is too high. I beg to differ, though.

The most recent transaction for the development is in September 2010 and the transaction price is $905k for the 635sqft unit. For me, as real estate consultant, I do not dictate the pricing and the sellers will be the price listers and we will market according to the price given by the seller. The price that the seller is intending to sell is indeed $980k and I,as marketing agent of the unit will put up any offer made by buyers.

Over the last quarter, price increased 2.7%, according to URA data, and this will translate to a pricing of $1463psf for the unit. The pricing for this unit is current $1,543psf and the difference with expected selling price is $80psf. This pricing is still pretty reasonable due to the height of the selling unit vs the unit that transacted in Sept. The selling unit is above #15 vs the transacted unit of #07. For every level increase, there is a premium and for this instance, the premium is approximnately $10psf/level.

Whilst some buyers opined that the impact of the Govt measures will dampen the prices in the private market, it is my personal opinion that it is still very much unpredictable as genuine buyers will come back into the market. It is everybody's guess on the direction that the private property market is heading towards. If this unit is opined to be too highly priced, I would like to help you to scout for other units that you might be interested in. Below is the floor plan of the unit that I am marketing.

Photo 1: Floor Plan of Unit (Source: Singapore Expat)

I hope that with this review, I had provided a good analysis of the pricing of the unit and if you have further queries for me, please feel free to contact me.



Lovely Regards,
Lynn ONG (王丽英)

District Manager
ECG Property Novena District

L3009759F / R014-395F
BSc. Real Estate (NUS)
Mobile: (+65) 8479 3149

Email: lynn.lovelyhomes@gmail.com

Website: http://www.LYNNONG.net/

Blog: http://www.lynnlovelyhomes.blogspot.com/
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