News: Singapore Median Condo Prices Up in June 2020

Jul 21, 2020

Developers’ condo sales more than doubled in June to 998 units from the previous month, reported Singapore Business Review citing Jefferies.

Median prices also registered an increase from prior months during the lockdown.

The report, however, noted that primary sales declined 10% year-on-year during the first half of 2020.

Including executive condos, new sales rose to 1,031 units in June from 510 units in May.

Related article: Read about Singaporeans’ attitudes towards the current real estate climate in PropertyGuru’s Singapore Consumer Sentiment Study H2 2020.

On an annual basis, condo sales increased 21% with average unit prices rising to $1,975 per sq ft (psf) in June from $1,849 psf in the prior month.

The top selling projects from the previous month continue to hold their positions in June – namely, Treasure At Tampines, Parc Clematis, The Florence Residences, Parc Esta, and Stirling Residences.

Acquisitions by foreign property buyers increased during the period under review, thanks to virtual viewings/green lanes.

HDB resale volume also picked up, with such buyers mitigating the leasehold risk of public units.

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Eugenia Liew, Senior Digital Content Specialist at PropertyGuru, edited this story. To reach her with feedback on this or other stories, email eugenialiew@propertyguru.com.sg. 

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John Joseph Donough
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