New city-fringe condo prices climbing closer to those in central region

THE median price per square foot (psf) gap between new, non-landed homes in the Core Central Region (CCR) and those in the Rest of Central Region (RCR) narrowed to 14.9 per cent in August, after having done so to 25.07 per cent in April, Huttons Asia has said in a new report.

Typically, CCR homes cost more than those in the RCR and Outside Central Region (OCR). The median price psf gap between CCR and RCR new non-landed homes was at around 42.7 per cent in the past 10 years, said Huttons’ senior director of research, Lee Sze Teck.

With the increase in the RCR’s psf price since June, the median price paid for a new non-landed home there has exceeded that in the CCR. As of August, buyers paid S$2.47 million for a new non-landed home in the RCR, 10.8 per cent more than in the CCR.