Expert: Premium flats appeal to young and old
TNP posed these questions to key executive officer of Spruce Realty, Ms Jasmine Lau, 42:
Who are the buyers?
One group consists of young couples whose average gross monthly household income of $12,000 exceeds the ceiling stipulated by the Housing Board for new flats.
This means they are not eligible to buy them.
The other (group are) older, well-established couples, who probably have an empty nest and are looking to get a nice place, with a nice view and all the amenities nearby.
So what do buyers look for when they want a premium flat?
Apart from the better designs and better finishes, many want to live on the high floors because of the fantastic view. At City View, you would want the unblocked sights of the Sports Hub, Marina Bay Sand and the sea. The Pinnacle@Duxton offers panoramic views of the skyscrapers, the port and the sea.
Another reason is the location of these premium flats. They are centrally placed so residents can enjoy convenient access to shops, restaurants, schools...
They are also a stone's throw away from MRT stations, providing residents with alternative transportation (methods) to go to the workplace or school.
Will the value of the flats appreciate?
Yes, but minimally. These flats are relatively new now, only five years old. They are also in highly sought after locations.
There are very few units that are high up and offer unblocked views. So if new buyers have the same criteria - good location and beautiful scenery - they will be willing to pay a higher premium.