Chart of the Day: Average price of new RCR condos up 15.3% to $1,989 psf in Q2

This is the sharpest price increase in the past four years.

This chart from OrangeTee & Tie shows that the average selling price of new non-landed homes surged 15.3% to $1,989 psf in Q2 from $1,725 in the previous quarter, the sharpest price increase seen over the past four years.

Many new projects have breached the $2,000 psf benchmark for new homes in RCR, including Amber Park, which was sold for an average price of $2,481 psf. Another notable sale is Sky Everton with an average price of $2,525 psf.

Despite the higher psf pricing, sales have been healthy at both projects as 156 units were sold at Amber Park whilst 133 units were moved at Sky Everton in Q2, said OrangeTee & Tie.