Pasir Ris 8, an integrated condo recently launched, has been in the media for its remarkable sales. A DBS analyst attributed this to being a sign of an asset boom.After the dust settled and transactions have been published, we decided that we would dig deeper into Pasir 8’s sales data block by block and stack to discover the truth as well as potential learnings.
Why Pasir Ris 8?
This condo is a wonderful case study for professional property hunters and professionals who want to better understand the intricacies surrounding pricing.Because all transactions took place within two days, it removes variables like time passing and changing market expectations that could distort pricing studies.It is also large, so the average eliminates any outliers.Allgreen, the developer, was also able adjust their prices multiple time during the two days.This meant that the prices in caveats accurately represented the market’s underlying demand and supply. It was also the price buyers are willing to pay.In contrast, a dysfunctional marketplace meant sellers either have too many supplies than buyers need or they can’t meet their demands.Many stores ran out of toilet papers during the pandemic because they couldn’t adjust the prices. Buyers may have been willing to pay more, but that was just one example