Adhering to the collective earnings fever of the last couple of years, costs of new condo units are currently increasing.
The number of pricier flats made available on the marketplace have grown quite significantly.
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24% of flats priced below $1 million
At the first quarter of this year, 37% of the market share has been composed of flats priced $1 million and below.
To the contrary, 5% of units are currently priced $3 million and aboveup from the preceding 3%. These amounts apply only to new flat units.
Analysts say that reflects the high costs programmers have previously paid for obtaining land through en bloc earnings from 2017 to mid-2018. It might also be due to the fact that programmers are raising average unit dimensions and buyers are revealing preferences for bigger units.
Resale condo costs remain stable
Costs of resale condo units have nevertheless remained stable.
In general, sales of fresh non-landed jobs rose 7.4% in precisely the exact same period this past year.
The trade volume of new flats is expected to reach between 8,000 to 10,000 this year and analysts are cautiously optimistic about this year’s prediction.
In the next half of this year, the requirement for non-landed units by burglars is expected to grow while more new jobs may signify a pickup in sales in H2.