District 9, with Orchard Road, has long been considered the crown jewel of Singapore real estate. The Bugis to Beach Road stretch (District 07) is just the place you pass on the way to Orchard Road; most of its value really used to come from being close to Orchard. That’s why it was a big surprise when, in 2019, many analysts and experts jumped on the news to say Bugis had overtaken Orchard in prices.
That’s undoubtedly true for last year, as we’re about to show you in a moment. But are we just seeing at a temporary spike in district 7, or is this really a “new norm”?
Here’s a look at how prices have moved in district 7, compared to district 9:
(At the time of writing, it’s still only the middle of 2020 and just after the Circuit Breaker; so don’t read too much into the apparent steep drop at the end.)
Even accounting for this, we can see that average condo prices in Bugis (blue line) have appreciated