The prices in real estate in Boat Quay, in the 01 City, Marina Area region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Boat Quay has had a strong decrease during the last 6 months. In December, the average price per sq.feet was S$ 2,795. In January this price pretty much remained the same at a value of S$ 2,687 per sq.feet. The price for the following two months in (February, March) had a considerable decrease of 53 with regard to the prior two months. The price per sq.feet has had a considerable increase of 116 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of S$ 2,094 to S$ 2,425 during April, and May.
Based upon to the price in Boat Quay (cities), this has gone up in the last 6 months. In our first sample month during December, the average price is S$ 1,746,160. In January This price remains at S$ 1,707,060. During the following two months (February, March) the average price had a considerable reduction of 48 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 243 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of S$ 3,028,509 they are 46 % more affordable than the average price for Boat Quay. The properties with the highest average price have 4 bedrooms, Their price is 219 % more costly than the average. After that we have properties with 3 bedrooms priced at S$ 3,602,550.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of S$ 2,349 / sq.feet, with an average S$ 2,415 / sq.feet price in Boat Quay. The properties with the highest average prices have 4 bedrooms. They are 15 % more expensive than the average followed by properties with 1 bedroom with a price at S$ 2,462 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most affordable one. At an cost of S$ 3,028,509 it is 44 % cheaper than the average price in Boat Quay. "Apartment" is seen as the second most affordable property type. The dearest property type is "Condominium" followed by "Apartment". At a price of S$ 2,841,723 it is 70 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of S$ 2,391 / sq.feet followed by "House" priced at S$ 2,678 / sq.feet. "Condominium" is the most costly type of property with a S$ 2,929 / sq.feet cost followed by "House" with an average price of S$ 2,678 / sq.feet.