Private residential real estate prices in Singapore rose 1.1% q-o-q in 3Q2021, higher than the 0.8% q-o-q increase in the preceding quarter, and exceeding the 0.9% increase in flash estimates released by the URA on Oct The non-landed segment rose by 0.7% q-o-q, lower than the 1.1% increase observed in the last quarter. Meanwhile, the landed segment saw a rise of 2.6% q-o-q, improving after the 0.3% decline recorded in the prior quarter.
In 3Q2021, a total of 3,550 private residential new condo new homes (excluding ECs) were sold, 19.7% higher than the 2,966 units sold in the preceding quarter.
Over the quarter buyers flocked to the new launches in the Outside Central Region (OCR). Among these, developments like Pasir Ris 8 (425 units) and The Watergardens at Canberra (285 units) “benefitted from pent-up upgrader demand and were among the best-selling projects for the quarter”, notes Tricia Song, head of research, Southeast Asia, CBRE.
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