141 OCR condos sold above $2m in July

The Outside Core Central Region led the new home sales market last month.

The Outside Central Region (OCR) condo market breached a new high in July, with 397 new sales breaking the December 2020 record of 293 units.

Amongst those sales, 141 units sold for at least $2m.

The OCR saw the highest number of new home sales last month. Including executive condominiums, new home sales increased by 81.3% month-on-month to 1,744 units.

“The new home sales performance in July 2021 was boosted by the buzzing OCR sub-market which saw over 1,000 units being transacted. We believe that the catalyst to the exuberance was the recent GLS tender activity where Ang Mo Kio Avenue 1 and Lentor Central received top bids of $1,118 psf ppr and $1,204 psf ppr respectively from developers. The news of aggressive land prices triggered many to realize that future launch prices are likely to rise further,” said Propnex CEO Ismail Gafoor in a statement.