What’s fuelling the boom in new condo demand
High take-up rates for recent new condo launches have dominated headlines. The sales volume of new condo units is undeniably on the rise. To date, 3,268 sale caveats for new condo units have been lodged this year, up from 1,139 caveats in 1Q2024 and 1,184 caveats in 1Q2023. Amid strong demand, the average price of new condo units has also risen from $2,402 psf in 1Q2024 to the current $2,465 psf (see Chart 1).
Is it a Good Deal?: $518,000 for a four-room flat opposite Bishan-Ang Mo Kio Park
High take-up rates for recent new condo launches have dominated headlines. The sales volume of new condo units is undeniably on the rise. To date, 3,268 sale caveats for new condo units have been lodged this year, up from 1,139 caveats in 1Q2024 and 1,184 caveats in 1Q2023. Amid strong demand, the average price of new condo units has also risen from $2,402 psf in 1Q2024 to the current $2,465 psf (see Chart 1).
Orchard Road Ranks 12th Most Expensive Retail Street Globally: Cushman & Wakefield 6
High take-up rates for recent new condo launches have dominated headlines. The sales volume of new condo units is undeniably on the rise. To date, 3,268 sale caveats for new condo units have been lodged this year, up from 1,139 caveats in 1Q2024 and 1,184 caveats in 1Q2023. Amid strong demand, the average price of new condo units has also risen from $2,402 psf in 1Q2024 to the current $2,465 psf (see Chart 1).
