As the real estate market evolves, the city fringe region (RCR) has emerged as a surprising leader in private home prices, particularly in the condo segment. By the end of 4Q2024, the median price of condos in the RCR reached an impressive $2,466 per square foot (psf), surpassing the prime Central Core Region (CCR) by 9.7%. This upward trajectory signifies a pivotal shift in consumer preference and market dynamics, as RCR condos have consistently gained traction over the past few years.
From 1Q2022 to 1Q2025, the RCR experienced remarkable price growth of 32.4%, climbing from $1,822 psf to $2,413 psf. This stark contrast is particularly notable when juxtaposed with the CCR, which witnessed a slight decline of 1.6% in condo prices during the same period. Such a trend highlights an evolving landscape where buyers are increasingly favoring the RCR for its blend of affordability and lifestyle offerings, making it a sought-after locale for both investors and homebuyers.
The surge in high-value transactions within the RCR further underscores this shift. By 1Q2025, over half (50.4%) of condo transactions in the RCR were priced at $2 million or more, a significant increase from 32.9% three years earlier. This escalation indicates a growing market for luxury condominiums and a demand for higher-end living within the RCR, attracting buyers who are willing to invest in premium properties. The increase in high-value sales reflects a broader trend where affluent buyers are drawn to the region, likely due to its strategic location and amenities.
Moreover, the demand for new condo developments in the RCR remains robust. In 4Q2024, new condo transactions accounted for an impressive 61.2% of total transactions in the region, suggesting a strong appetite for fresh offerings despite a decrease to 47.4% in 1Q2025. This preference for new developments can be attributed to the appeal of modern designs, advanced facilities, and the desire for homes that offer contemporary living experiences.
Looking ahead, the landscape is poised for further transformation with upcoming projects on Government Land Sale (GLS) sites. Analysts anticipate that these new launches may set benchmark prices exceeding $2,800 psf, further solidifying the RCR’s position in the real estate market. Such developments are likely to attract even more interest and investment, reinforcing the belief in the RCR’s potential for continued price appreciation.
NEW CONDO LAUNCH: RIVER GREEN
River Green is an exciting new condo launch in the city fringe, designed to meet the growing demand for contemporary living spaces.
With anticipated prices potentially exceeding $2,800 psf, it aims to set new market benchmarks.
The River Green floor plan showcases modern amenities and aesthetic appeal, attracting buyers eager for luxury living.
The project details indicate a strategic positioning amidst rising condo prices, with strong sales trends supporting its launch.
View RIVER GREEN ShowFlat & Get VVIP Discount. Register or contact 6100 8822 to book showflat appointment.
News Source: Edgeprop
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