Singapore Private Residential Price Surged 1.3% in Second Quarter

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Private Residential performed brightly in Q2 2019 by posting a 1.3% jump in price, flash estimate data from Urban Redevelopment Authority (URA) shows. Among which, city fringe (Rest of Central Region) took the lead with a whooping 3% rise in price, while City Centre area (CCR) follow by a 1.5% increment compared to the previous quarter. Mass market condo was the most stable region with only 0.5% bump.

New home sales activities remain positive with 3874 units sold in the first half of 2019, compared to 3688 units of that of the same period of 2018. Good location condominium that offer better value and priced sensitively are still favourite for home seekers and investors.

Analyst noted the robust fundamental and resilient economy in Singapore are among the main contributor of strong performance in real estate segment as a safe haven for capital appreciation and rental collection, amid recent downward projection of global economy.

Moving forward, potential buyers will continue to be prudent in their decision making and search for good value property. Developer’s pricing strategy and innovative design in landscaping and layout remain the key factor to successful sales at the showflat.

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