COTD: Luxury homes transaction value climbs to $1.37b

The average price per unit rose to $9.8m from $9.6m.

Due to the sustained demand for luxury homes, the total transaction value of private homes in the CCR climbed to $1.37b during the second quarter of the year.

According to a Realion report, the average price per unit rose to $9.8m from $9.6m.

However, by PSF Pricing, the number of CCR condos transacted for more than $3,000 per square foot decreased to 62 units.

This was due to a decrease in new sales, which dipped to 30 units. The number of resale units showed a smaller decline, from 29 units to 24 units over the same period.

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