Property Hunt – Dover Parkview

10 Dec 2008

Dover Parkview's pricing may change once the apartments in One-North are completed. But question is, by how much and is it attracting demand?

Dover Parkview had a total of 37 transactions lodged over the past 12 months. Its average pricing per sq ft (psf) in December was S$850. The average value of the transactions in January and February was S$800 psf, while it went up to S$825 psf in March. In April, the average value went down again to S$800 psf and it fell further to S$750 in May and June. There was only one transaction lodged in July at S$807 and the last transaction was done in August at an average of S$750 psf.

The highest transaction done was in February at S$919 psf while the lowest was sold in August at S$612 psf. You can see that the pricing psf did not vary too far apart or drop too drastically. It managed to stay afloat in the range of S$750 to S$850 psf.

One-North Caveats
Just to have an idea of the kind of competition that Dover Parkview will be having, let's look at how well One-North Residences did. It will be completed next year, but during the preview in 2007, 10% of its units were already being snapped up at S$800 to S$900 psf.

But over the past year, there were only eight caveats lodged – a quarter of that in Dover Parkview – with an average of S$1,000 psf. Its transaction values did not fluctuate too far from the average. The highest was sold at S$1,155 psf in January and the lowest was at S$929 psf in September.

The difference is quite clear-cut. There was a greater demand for apartments in Dover Parkview just by looking at the number of transactions lodged. The ratio comes up to 37 to 8 – that's more than four times. Looking at the pricing psf, units in Dover Parkview are cheaper by at least S$150 psf compared to the brand new ones in One-North Residences. Not bad for an 11-year old, plus it is near One-North itself.

Here, Dover Parkview wins. But things may change once One-North is up and running.

Convenience is what One-North Residences have over Dover Parkview. After a long day's work, you can retreat in your home nearby. It is similar to hostel living, only with bigger space and of course more money. If convenience is an important factor in choosing an apartment, then One-North Residences may appeal to you.

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