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Around 50% of new condo units sold valued at $1m to $1.5m

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Around 50% of new condo units sold valued at $1m to $1.5m

Units occupying areas of less than 1,000 sq ft took the largest share of new condominium sales at 81.7%, which the report noted was probably due to their more affordable price quantum.

Around half of new condominium units sold or 47% of total units sold in the third quarter of 2019 were valued at $1 million to $1.5 million each, due to the increase of proportion of smaller units getting sold, reported Singapore Business Review citing an Edmund Tie & Co. report.

Units occupying areas of less than 1,000 sq ft took the largest share of new condominium sales at 81.7%, which the report noted was probably due to their more affordable price quantum.

With investors and buyers remaining price-conscious, the proportion of units sold within the higher price ranges decreased on a quarterly basis.

However, across three market segments, there have been reported growth in the proportion of units valued above $2 million in the Rest of Central Region (RCR), mainly because of the Avenue South Residence’s launch and the sale of 32 units at Sky Everton.

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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg