Source: The Straits Times, 27 July 2019
Private home prices rose 1.5% in 2nd quarter of 2019 as compared to the same period last year. The price increase was highest in Rest of Central Region (RCR) at 3.5%, whereas prices were up 2.3% and 0.4% at Core Central Region (CCR) and Outside Central Region (OCR) respectively.
The recent unrest in Hong Kong and the Brexit uncertainty spur the rise in buying interest of high-net-worth foreigners in Singapore’s private residential market, especially for properties above $4 million in value, according to the experts.
For 1st half of this year, private home prices climbed 0.8%, which is just 2.5% below the peak in 3rd quarter of 2013. New private home sales jumped 27.9% in 2Q 2019 over 1Q, with 2,350 units sold. This is an impressive take-up rate of 93.9% compared to 61.5% in 1Q.
The top selling private residential project for 2Q (April to June) this year is Treasure at Tampines, with 167 units sold at average price of $1,320 psf. This is followed by 156 units sold at average price of $2,475 psf for Amber Park, the 2nd best selling project.
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