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85% sale of Pasir Ris 8 over weekend shows initial signs of 'asset bubble behaviour': DBS

Felicia Tan
Felicia Tan7/29/2021 4:19 PM GMT+08  • 4 min read
85% sale of Pasir Ris 8 over weekend shows initial signs of 'asset bubble behaviour': DBS
The mixed-use development launched over the weekend to huge fanfare, with close to 85% of the 487 units sold just within one day.
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DBS Group Research analysts Derek Tan, Rachel Tan, Dale Lai and Geraldine Wong, in a Singapore property flash note dated July 27, says they remain on close watch on potential cooling measures from the government after the strong sale performance of Pasir Ris 8 on July 24.

The mixed-use development launched over the weekend to huge fanfare, with close to 85% of the 487 units sold just within one day.

The project raised the price six times through the day with a 700 sq ft two-bedroom unit going for as high as $1.5 million, which translates to $2,100 psf, from $1.15 million for a similar-sized unit earlier in the day.

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