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Chart of the Day: Home prices in OCR slipped 1.3% to $1,025 psf in Q2

New home prices rose, but was offset by a decline in the resale segment.

This chart from OrangeTee & Tie shows that the average price of resale, mass-market condominiums in Outside Central Region (OCR) dipped 1.3% YoY to $1,025 psf in Q2.

On a QoQ basis, the average price of new non-landed homes in OCR rose 1.2% from $1,456 psf in Q1 to $1,474 psf in Q2, whilst resale prices of non-landed homes dipped 1.3% to $1,025 psf over the same period. 

Likewise, the sales volume for mass market non-landed homes slipped for the third consecutive quarter on the back of fewer new launches and effects of the pandemic. In Q2, 1,139 homes were transacted in OCR, down 29.7% QoQ from 1,620 units in Q1. New home sales rose last quarter by 5.7% over the same period from 770 units in Q1 to 814 units in Q2.

The best-selling projects excluding ECs were Treasure at Tampines (185 units), Parc Clematis (154 units), The Florence Residences (150 units), The Tapestry (72 units), Affinity at Serangoon (51 units), Riverfront Residences (42 units), Whistler Grand (35 units) and The Garden Residences (30 units).  

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