New private home launches taking off as resales slow

Price gap widens, with new sales surpassing resales for the first time in three years

The Sky Everton is among the new projects sold above an average price of $2,000 psf, helping to fuel the faster price growth.
The Sky Everton is among the new projects sold above an average price of $2,000 psf, helping to fuel the faster price growth. PHOTO: SL CAPITAL (6) PTE LTD
Senior Business Correspondent
Updated
Published
November 17, 2019 at 5:00 AM
New: Gift this subscriber-only story to your friends and family

While new private home sales appear to be on the rebound, underpinned by higher prices of new launches and resilient demand amid an uncertain economic climate, the outlook may not be as good for resale condos.

According to a report by OrangeTee & Tie, resale transactions have slowed and some owners in the suburbs and city fringe areas may have lowered asking prices in the face of competition from new launches.

Already a subscriber? 

Dive deeper at $0.99/month

Want more exclusives, sharp insights into what's happening at home and abroad? Subscribe to stay informed.

ST One Digital Package - Monthly

$9.90 $0.99/month

No contract

$0.99/month for the first 3 months, $9.90/month thereafter. T&Cs apply.

Subscribe now

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • 2-week e-paper archive so you never miss out on any topic that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.

A version of this article appeared in the print edition of The Sunday Times on November 17, 2019, with the headline New private home launches taking off as resales slow. Subscribe

Available for
iPhones and iPads
Available in
Google Play

MCI (P) 031/10/2021, MCI (P) 032/10/2021. Published by SPH Media Limited, Co. Regn. No. 202120748H. Copyright © 2021 SPH Media Limited. All rights reserved.

Back to the top