by OrangeTee & Tie Pte Ltd.

Residential resale rebound widens price gap between new launch and resale market

SRX HDB Resale Data

SRX HDB Resale Data

Singapore, 25 Jun 2021

SINGAPORE (EDGEPROP) - The gap between the average price of a private resale property and the average price of new launch projects is at its widest in the last five years. Based on resale transaction statistics from PropNex Realty, the price gap increased to about 47% in 1Q2021 from 35% for the whole of 2020 and 28% in 2019, after climbing from 23% in 2018. 

“Historically, there has always existed a price gap between the private resale market and the new home market. However, an alarming observation we have made is that this price gap between the two market segments is at its widest based on transactions over the past five years,” says Ismail Gafoor, CEO of PropNex Realty.

Gafoor attributes the widening price gap to the increase in prices of successful new project launches across the island, from the Core Central Region (CCR), Rest of Central Region (RCR) and Outside Central Region (OCR) over the past three years.

To read full article: click here

For more news, research and information,