If time is a luxury . . . it could be now

IN 2017, according to Q4 URA statistics, the residential market saw just north of 25,000 transactions lodged. These include new sales, resales and sub-sales. Some 74 per cent of these transactions were transacted below the quantum of S$2 million.

In fact, while the primary market saw a four-year high in terms of sales volume at 10,566 units, 85 per cent of the new private homes sold in 2017 were below S$2 million. Generally, the residential market was driven predominantly by quantum.

Unsurprisingly, the Rest of Central and the Outside Central regions accounted for homes at this sweet spot of below S$2 million. However, there was a positive story forming in the Core Central region as well: for luxury apartments worth S$5 million and above in the Core Central region, a total of 372 caveats were lodged in 2017, the highest since 2011.