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Higher Prices Or Not, These New Condo Units Are Moving Fast

Higher Prices Or Not, These New Condo Units Are Moving Fast

Higher Prices Or Not, These New Condo Units Are Moving Fast

Some private residential projects in Singapore continued to post decent sales rate even as they come with higher unit price and quantum, said Knight Frank.

Amber Park sold the highest number of units in the second quarter of 2019, with 157 units sold at an average price of $2,480 per sq ft (psf).

It is followed by Treasure at Tampines, with 150 units sold for around $1,327 psf. The Tre Ver moved 140 units for $1,625 psf, while The Florence Residences sold 135 units for $1,445 psf, reported Singapore Business Review.

Homebuyers also snapped 117 units at Parc Esta for about $1,684 psf.

These top five selling projects mostly sold two-bedroom units measuring between 500 sq ft and 800 sq ft for below $2 million. In fact, sales for such units accounted for 47.6 percent (333 units) of the total units sold across these projects in Q2.

Those measuring less than 500 sq ft were the second most sought after units, with 131 units sold, followed by the group between 1,000 sq ft and 1,500 sq ft with 117 units transacted.

Treasure at Tampines moved the most two-bedroom units for $1.15 million. The most expensive two-bedroom units, on the other hand, was sold by Amber Park at $1.77 million.

Knight Frank noted that Amber Park also sold 23 units measuring over 1,500 sq ft, adding that some of the buyers may have been previous owners who sold the development via en bloc sale to the developer.

“The price quantum of the projects sold also suggests a three-tier market, with most of the units being sold at either the high end (more than $5 million) or low end ($800,000 to $1.2 million) of the spectrum, and considerably fewer units sold in the $2 million to $3 million range.”

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Fiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email fiona@propertyguru.com.sg

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