The Q3 price increase came largely supported by the strong sales performance of AMO Residences, Sky Eden and Lentor Modern.
Setting the new benchmark price point of more than $2000psf in Outside Central Region OCR, the buyers’ appetite and pricing acceptance towards new projects has been strong.
What it also means is that, developers will have mixed responses towards securing future land plots and readjusting their pricing for existing projects.
Strangely, a new project in Core Central Region CCR could be found selling so close to a project that is located in the OCR. We are indeed living in interesting times.
Moving forward, the Q4 results will be much muted due to the lack of significant new projects launches to push up the market.
The most recent cooling measures will also put some buyers out of the market for a short period, adopting a wait and see approach before reentering into the market.
Personally, I will think that cooling measures like this will become more frequent as the Gov seems to be recalibrating their policies every time they have new data to assess the on the ground demand.
Especially for the public housing, if the prices still stubbornly increases above their acceptable threshold, they will have to do something more drastic.
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