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The landscape of Singapore's property market is changing, with price cuts at new suburban projects, while new sale prices for more central homes have been more stable.
This has led to a growing price gap between downtown projects and those in other parts of Singapore.
SINGAPORE - Sales of new private residential units rose 83.4 per cent in April from March, boosted by two condominium launches, according to figures from the Urban Redevelopment Authority on Friday.
Developers sold 1,124 new homes in the month, which saw 1,344 units being launched. April's sales were the highest since May 2014 and compared to 613 units sold in March.
April's sales were also 47.5 per cent up from a year back, where 762 new private homes were sold and 606 units launched.
Observations:
According to the SRX Non-landed Private Residential Price Index:
Given the popularity of Tiong Bahru as an estate, the positive response for 500-unit Highline Residences (pictured) by Keppel Land is not unexpected. According to media reports, about a quarter of the units at the condominium in Kim Tian Road were sold over the weekend.
SINGAPORE: Private residential property prices have been subdued, following cooling measures by the government last year.
Overall, they are expected to remain muted this year.
But some analysts have said prices of private homes in the city fringe could start picking up soon.
This is due to new project launches in attractive locations like Commonwealth Avenue, Kim Tian Road and Prince Charles Crescent.
