Private residential properties prices had increased by 5% in Q4 2021 in comparison with Q3 2021 of 1.1% price increase and this is primarily driven by factors such as economic growth and upgrader demand and potential buyers who had gotten their money after their properties had gone through successful enbloc sales.
Real estate statistics released by URA on 28 January show prices were up by 10.6% in the whole year of 2021 much lower than the 2.2% increase in 2020.
The quarter which marked the highest quarterly increase was Q4 2021 as compared to Q2 2010 when prices rose by 5.3%. Accordingly 2021 has the highest growth since 2010 when prices were up by 17.6%.
With such prices escalating, it will be interesting to see the price set by the respective developers for The Arden and Sceneca Residence new condo projects. Will the many others new condo such as Canninghill Piers, Riviere experience upward price pressure?
CDL to develop Piccadilly Grand, Piccadilly Grand location in cityfringe in District 08