Seven in 10 new private condos sold in H1 at under S$1.25 m

Singapore

A STUDY by CBRE has showed that 71.7 per cent of new sales of private apartments and condos in the first half of this year had price tags of below S$1.25 million each. This is higher than the 63.6 per cent share recorded for the whole of last year.

The property consultancy group observed that even with a longer-range view - looking at figures since 2007, despite rising wages and inflation - this sweet spot of consumers has stayed largely unchanged.

CBRE research head Desmond Sim said: "Our study of caveats lodged for non-landed new sales from 2007 to H1 2014 showed that 55 to 75 per cent of transactions were priced below S$1.25 million each. In particular, the most popular price band was from S$7…