Residential

Rising interest in city-fringe homes cause May sales of private homes to increase

With the rising interest in city-fringe homes, the sales of new private homes for May increased by 5.4 percent with a total of 1,455 units sold, compared to the 50 percent drop of the previous month. 41.4 percent of the sales were taken by the Rest of Central Region (RCR). In fact, transactions within RCR have been on the rise since Q3 of 2012. In addition, RCR projects such as Corals at Keppel Bay, KAP Residences, and Bartley Ridge accounted for the top five sellers by volume for May. It was reported that the rise in sales of RCR was caused by the high selling price of mass-market homes in the Outside Central Region and the narrowing price gap between RCR and OCR homes. On the other end, the high-end market was bleak with ...