1 April 2010 - In Hong Kong, London, New York, Tokyo etc, all these major cities have a similar "phenomenon", that condos/properties "in the city" are at much higher prices than those in the suburbs, there exists a "2-tier market".

Why? Becos all Major Cities attract the very, very Rich and Wealthy. For them, they go for "prestige" and "in", they would gladly pay high prices for properties in the city.....actually, Singapore is starting to have this trend.

In the past, only District 9 (Orchard area) would command prices of S$3,000 psf, now it include District 1 and 2, (Marina, CBD), District 4 (Sentosa, Harbourfront)......I heard that Marina Bay Residences are going to be relaunched at S$2,500 to S$3,500 psf....

All 202 units of 76 Shenton sold out within 1 day at prices ranging from S$1,600 to S$2,600 psf on 25 March 2010 (Thursday). (I know and I saw with my own eyes, as I was there at the launch of 76 Shenton).

Altez, the latest Far East project is selling its "Loft" units on 30th floor for S$2,350 psf....please note that Loft has 35% extra space compared to Studio units, which means the price is closer to S$3,000 psf instead.....Altez has 62 floors, I really can't imagine at what prices they would sell those above 50th floor....

Far East has 2 remaining 2-bed room units on 45th Floor, and selling at S$2,500 psf....(I saw the units myself).

The suburbs mass market condos are mostly owned by Singaporeans for Home Purchase, and the "peak" prices is very near, as the "celing" will be determined by the income of Singaporeans......but for condos in District 1, 2, 9 and 10......they are mainly owned by foreigners...who might be very, very rich, eg. The Owner of India's Spice Group who bought the Penthouse unit at The Sail for S$15.5 million, or S$2,650 psf during the Global Financial Crisis in Sep 2008....