Chart of the Day: EC average unit price reaches historical high

The average unit price of all new ECs reached S$731 psf in Q3.

Savills Research noted:

A new 958-sq ft EC at Arc at Tampines was sold for a record unit price of S$941 per sq ft in February 2012. Two other units of 1,012 sq ft and 1,001 sq ft at The Tampines Trilliant were sold for S$888 per sq ft and S$886 per sq ft respectively in April this year.

The number of ECs priced at S$800 per sq ft and above has also jumped significantly to 215 units in the first three quarters of this year, from 19 units in 2011 and 13 units in 2010. Similarly, those priced between S$750 per sq ft and S$800 per sq ft doubled from 261 units in 2010 and 204 units in 2011, to 499 units in the first three quarters of this year. The average unit price of all new ECs reached an historical high of S$731 per sq ft in Q3 this year.