Chart of the Day: Almost half of condo units sold in Q3 priced $1m-$1.5m
This is a result of an increase in the proportion of smaller units being sold.
This chart from Edmund Tie & Co. reveals that almost half of new condo units sold in the third quarter, or 47% of total units sold were priced between $1m to $1.5m as a result of the increase of proportion of smaller units being sold.
Units with sizes less than 1,000 sqft took the lion’s share of new condo sales at 81.7%, which the report noted may be due to its more affordable price quantum.
The proportion of units that were sold within higher price ranges declined on a quarterly basis, as buyers and investors remained price conscious, said Edmund Tie & Co. Still, across the three market segments, there were reported increases in the proportion of units priced above $2m in the Rest of Central Region (RCR), largely due to the launch of Avenue South Residence as well as the sale of 32 units at Sky Everton.