Why is the rate at Gem Residences $2,056 psf on 2nd September 2025, which is lower than others?

A rate of 2,056 per square foot on 2nd September 2025 at Gem Residences is notably lower than some recent transactions at the same development, where prices have ranged up to 2,120 per square foot in June 2025 and the record high was 2,122 per square foot for a larger unit in September 2025. There are several possible reasons for this price variation:

- Unit Attributes: Lower-priced transactions typically involve units with less desirable attributes such as lower floors, less favorable facing, smaller or awkward layouts, or poorer condition. Premium views or higher floors often command premium prices.

- Market Cooling: The general market in Q2 2025 experienced slower price growth, with private residential property prices rising by only 0.5% quarter-on-quarter, reflecting weaker momentum and potentially less buyer exuberance compared to earlier periods. This could have contributed to some owners accepting lower prices to close deals.

- Urgency or Motivation of Seller: A seller who needs to offload a unit quickly (due to financial, personal, or investment reasons) may price their property more competitively to attract buyers.

- Unit Size and Floorplan: Price per square foot can vary by unit size; smaller units often fetch higher psf rates than larger ones. If the 2,056 psf transaction was for a larger-than-average unit, the total price quantum would be higher, and thus the psf may be relatively lower.

- Seasonal or Transactional Variability: Property prices fluctuate between transactions for reasons such as timing, negotiation factors, and market sentiment.

Overall, while 2,056 psf is below the recent peak for Gem Residences, it falls within the observed range for transactions in 2025 and may reflect specific unit or seller circumstances rather than a broad market decline. For more detailed insights, it helps to compare the transacted unit’s floor, facing, condition, and overall market context with other recent sales at Gem Residences.