/ Property news / Share of new condo units priced under S$1m fall to 24% in Q2: report

Share of new condo units priced under S$1m fall to 24% in Q2: report

UNIT prices of new condominiums in Singapore trended higher in the second quarter of this year, with the proportion of apartments priced under S$1 million falling to 24 per cent of new units sold, from 37 per cent in the first quarter, according to a report out on Monday.

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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.

Share of new condo units priced under S$1m fall to 24% in Q2: 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. 

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