Big ticket private homes have been gaining ground, with increases in the proportion of both new and resale units priced about S$3m. Overall, total sales volume amounted to 4,212 units — the highest since the third quarter of 2018 when cooling measures were introduced. The higher new unit prices from projects released by developers reflect the high land prices paid for en bloc sites acquired in 2017 to mid-2018, as well as the larger average unit sizes to some extent.
For the second quarter, new sales were up 30.6 per cent at 2,246 units, from 1,720 units a year ago. The proportion of new units priced above S$3 million rose to 5 per cent with 112 units sold, up from 3 per cent in the first quarter with 52 units sold. Resale volume also rose 18.2 per cent to 1,966 units, from 1,663 units the previous quarter. The proportion of resale apartments priced above S$3 million rose to 11 per cent with 216 units sold, from the previous quarter’s proportion of 8 per cent with 133 units sold.
This second quarter’s price growth was largely attributed to the higher selling prices of newly launched projects with strong take-up rates at Sky Everton and Amber Park, both of which were considered to be attractively priced.
Read the full report here.