New sales of condominiums below 500 sq ft rose to 15.1% this quarter, compared to 13.6% in Q2 2019. Condos between 700 sq ft and 1,000 sq ft also increased from 30.3% to 33.5% in the same period
Given their more affordable price quantum, smaller condos – or those measuring below 1,000 square feet (sq ft) – made up 81.7% of total new sales in the third quarter of 2019, reported Singapore Business Review citing Edmund Tie Research.
The percentage of condominium sales measuring less than 500 sq ft rose from 13.6% in Q2 to 15.1% in Q3, while those measuring between 700 sq ft and 1,000 sq ft increased from 30.3% to 33.5%. The proportion of all other unit sizes, however, dropped.
Hence, there was a bigger share of units priced below $1.5 million. Units priced between $1 million and $1.5 million substantially increased from 40.7% in Q2 to 47.1% in Q3.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email email@example.com