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About Central Region Private Home Sales Hit a 10-Year High during Q2 in 2021 | Orange Tee report cited that the Central region in Singapore witnessed a 10-year high of sales in luxury homes during the second quarter of 2021. This region covers areas such as Holland, Bukit Timah, Orchard Road, Newton Road, Sentosa, and the city areas among others. According to (URA) Urban Redevelopment Authority data, luxury homes sales within this area jumped twenty-five percent quarter-on-quarter to 1,930. In this regard, Orange Tee said this is the highest ever since 2,014 units were shifted in Q4 2010.
Artist’s Impression of Les Maisons Nassim
Thus, in the Core region, private homes also increased by four point five annually, as opposed to Q2 2020, when Circuit Breaker measures were in place. Moreover, Nicholas Mark, the Consultancy and ERA Reality’s Head of Research featured the vast number of luxury home sales to that of units issued out for sale in Q2 2021.
Therefore, in Q2 2021, there were 1,019 new units established for sale in the Core region, which was the highest ever since Q4 2013 when 1,093 were scheduled for sale, he added. On the other hand, some analysts attributed the hike in demand was due to the presence of high net-worth people who wanted to invest in the city-state’s high vaccination rates as well as the property here to help boost the consumer boldness.
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Similarly, Orange Tee noticed that Singapore’s real estate market was so appealing to the investors because of the low estate taxes as opposed to other countries. Also, foreigners view Singapore as a lively and liveable place pursuing them to invest in this country.
Artist’s Impression of Les Maisons Nassim
In Q2 2021, 813 units were sold in the Core Central Region and the sales of new homes increased to an 11-year quarterly high. In terms of the apartment, A 611 sq. m unit at Les Maisons Nassim found along Nassim road came out to be the priciest luxury sale in terms of price.
In a nutshell, the best-selling new private condos in 2021 were Hyll on Holland, Midtown Modern, Leedon Green, Irwell Hill Residences, and Fourth Avenue Residences.
