AN ADVERTISEMENT for a resale condominium unit shouts: “Freehold selling at leasehold price!” Another says: “S$2,064 psf for a district 9 freehold project that’s less than 9 years old.” Yet another simply states: “Cheaper than 99-year leasehold.”

The properties above share a few common traits: They are prime district freehold, non-landed homes; and their asking (and transacted) prices are lower than the median selling price for the new 99-year leasehold AMO Residence project in Ang Mo Kio of S$2,110 per square foot (psf).

AMO Residence sold over 98 per cent of its 372 units by the first day of its launch on Jul 23, with 1 of its 3 penthouses transacting at an eye-watering S$6 million or S$2,406 psf.