Price gap between RCR and CCR homes narrows in March

THE price gap between new homes in the prime areas of Singapore and those outside of them continued to narrow in March, suggesting that there could be buying opportunities for those seeking properties in Districts 9, 10 and 11.

Median transaction prices for non-landed new private homes in the RCR and outside of central region (OCR) grew 4.8 per cent month on month to S$1.86 million, and 5.7 per cent to S$1.75 million, respectively. Meanwhile, that of the CCR (which includes Districts 9, 10, 11 and parts of 1, 2, 4, 6 and 7) fell by 4.9 per cent to S$2.24 million, according to Wong Siew Ying, head of research and content at PropNex Realty.

She added that the gap in median transaction prices between CCR and RCR homes has narrowed from 32.6 per cent in February to 20.3 per cent in March.