With Singapore’s prime property a key capital destination for investors, home prices in Orchard are scrutinised very closely. We take a look at how home prices in the area have been trending over the past six quarters.
Non-landed private residential home prices in Orchard Road
While prices in Orchard Road were relatively stable in 2017, it moved sharply upwards in 2018. The median price for condos in Q1 2018 jumped to $2340 psf, led largely by the launch of luxury project New Futura.
While prices have come down somewhat in Q2 2018, a spate of new launches such as 8 St Thomas, 8 Hullet, and Boulevard 88 are expected to keep home prices in Orchard above the $2,300 mark.
Rental home prices in Orchard Road
Median condo rentals in Orchard have hovered between $4.30 and $4.50 per sq ft over the past six quarters. This relatively stable level supports the theory that Orchard remains a popular rental destination amongst well-heeled expats and foreigners, who are willing to pay more for a home in this prime, convenient area.
At current prices, the median rental yield in the Orchard area is 2.48%.