Singapore residential prices up 7.5% for Q3 2021

This was the 6th straight quarter of price increases for private residential properties.

Singapore residential prices were up 7.5% for Q3 2021, according to a report from OrangeTee.

This was the sixth straight consecutive quarterly price increase, with overall prices increasing to 5.3% year-to-date.

"As Singapore boosts its efforts to re-open its borders fully, the rental market is poised to benefit when hiring ramps up in the aviation, MICE, hospitality and tourism sectors," said OrangeTee Senior Vice President for Research & Analytics Christene Sun.

The price increase was driven by the rise of gains in non-landed homes in the Rest of Central Region, as a 2.6% q-o-q jump was observed. The Core Central Region and Outside Central Region (OCR), meanwhile, had price decreases of 0.1% and 1.1%, respectively.

Resale and mass-markets home sales, meanwhile, accounted for a higher proportion of total sales. Due to their lower prices, this lowers the overall average price for the entire market. 

The OCR made up for 55.6% of total purchases, higher than the 47.1% from the previous quarter. This was due to major launches in the suburban area like Pasir Ris 8 and The Watergardens at Cabrera. Other such projects that contributed include Normanton Park, Midwood, Parc Clematis, Treasure at Tampines and The Florence Residences

Excluding executive condominiums, 9,083 private homes were sold in the quarter alone, a 7.5% increase over the 8,449 units from the previous quarter.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Jalan Tembusu, meanwhile, saw a strong performance due to the opportunity present in the area.
Users can now link accounts from Bank of China, DBS, Maybank, OCBC, StanChart, and UOB.
The new deal also extends SIAEC’s existing on-wing care services with Rolls-Royce.
Prime office rents rose 1.5% QoQ in the fourth quarter of 2021.
Completion of the acquisitions is expected to take place from H2 2022 to Q1 2024.
The Jalan Tembusu site hit a new record land rate of $1,302 psf ppr.
'Long COVID' is experienced by people who have symptoms that drag for a month.
This is according to interest rate forecasts from OCBC. 
Seven in 10 Singaporeans are looking to switch jobs in 2022.
DairyFarm had the most growth.
A continued expansion of the VTL program strengthened this performance. 
The resumption of data centre development came with new conditions.
The digital platform will use the fund to strengthen haulage capacities.
This is part of its continued support for the vaccination and booster drive.