Is there a reason for the price psf increase for Strathmore Avenue in 2024?

For Strathmore Avenue, several factors could contribute to any increases in the per square foot (psf) prices in 2024:

Location and Demand

Strathmore Avenue is located in the Queenstown area, which is a mature and desirable estate. The demand for properties in such areas often remains high due to their proximity to amenities, public transport, and other conveniences.

Market Trends

In 2024, the overall HDB resale market saw price growth despite a slight dip in sales volume. This general trend could influence the prices in specific areas like Strathmore Avenue, as buyers may be willing to pay more for desirable locations.

Recent Transactions

Recent high-value transactions in the area can also drive up the average psf prices. For instance, a 5-room flat in Queenstown, which could include Strathmore Avenue, was sold for $1,280,000 in March 2024, indicating strong demand and high prices.

Upgraders and Buyers' Preferences

Some HDB flat owners may be considering upgrading to private properties, but they might sell their HDB flats first to avoid additional buyer’s stamp duty (ABSD). This could lead to a more competitive market for HDB flats in desirable areas, pushing prices up.

To get the most accurate and up-to-date information on transactions and prices for Strathmore Avenue, you can check the detailed transaction data on EdgeProp Singapore.