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The higher unit prices from projects released by developers reflect the high land prices paid for en bloc sites acquired in 2017 to mid-2018, said real estate consultants Edmund Tie in its report.
They also reflect the increase in average unit size as well as a greater preference for larger apartments, said the report.
For resale properties, unit price ranges remained relatively stable quarter-on-quarter, other than a rise in the proportion of resale and larger sized units priced above S$3 million to 11 per cent in Q2, from 8 per cent the quarter before.
The most important Real Estate news around Singapore
- Mt Elizabeth Link serviced apartment block up for sale with S$230m indicative price
- More than 90% of 300 Avenue South Residence units launched on first day sold
- Meyer Mansion sees steady stream of well-heeled visitors on preview weekend
- UPDATE: UOL sells 276 units at Avenue South Residence
- Triplex penthouse at Mount Faber Lodge going for $4.8 mil
Latest Property news in Asia
- Tokyo buyers look towards second hand apartments
- EC World Reit bullish on e-commerce
- Capitaland fund management boss james lim resigns
- Hilton sells japan resort to mori jv for $119m
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