Will rising home prices raise the risk of fresh cooling measures?

Nisha Ramchandani

Published Tue, Nov 30, 2021 · 05:50 AM

WITH the private residential market poised to end the year on a high note, does this once more heighten the risk of policy measures?

Even the perceived possibility of cooling measures could serve as a near-term headwind for the share price of property developers with exposure to the private residential market, one analyst has flagged.

Earlier this month, the 696-unit CanningHill Piers saw brisk sales over its launch weekend, with 77 per cent - or 538 units - scooped up by buyers at an average selling price of about S$3,000 per square foot (psf), raking in total sales of some S$1.18 billion.

Among the units sold was the project's only super penthouse, an 8,956 square foot apartment on the 48th floor, which transacted for S$48 million or S$5,360 psf. The 99-year leasehold project, part of an integrated development located at the site of the form…