Chart of the Day: RCR takes up bigger share of sold new condos priced above $3m in Q3

The recently launched Avenue South Residence sold 26 units sized 1,000-1,500 sqft.

This chart from Edmund Tie shows that the proportion of new condo units priced $3m higher that are located in the rest of central region (RCR) grew to 52% in Q3 from 41% in the previous quarter.

Units priced between $2m and $3m located in the region, likewise, rose to 64% from 56% over the same period.

This was largely attributed to the launch of Avenue South Residence, which sold 26 units sized 1,000 to 1,500 sqft. Sky Everton also sold 32 units ranging between 700 to 1,000 sqft.

However, the share of new units priced priced higher than $3m declined to 3% from 5% in the previous quarter, with buyers and investors remaining price conscious.