As the real estate market continues to evolve, private home prices in the city fringe have shown remarkable resilience and growth. Recent data reveals that the median price of condominiums in the Rest of Central Region (RCR) reached an impressive $2,466 per square foot in the fourth quarter of 2024. This figure not only highlights the attractiveness of RCR properties but also indicates a substantial outperformance compared to the Central Core Region (CCR), which lagged by 9.7%. Such dynamics suggest that the city fringe has become an increasingly sought-after area for potential buyers and investors alike.
The period from the first quarter of 2022 to the first quarter of 2025 has been particularly favorable for RCR condominiums, as they experienced a remarkable price growth of 32.4%, jumping from $1,822 psf to $2,413 psf. In stark contrast, prices in the CCR saw a slight decline of 1.6%, emphasizing the divergent trends between these two regions. This significant appreciation in RCR prices can be attributed to various factors, including the area’s increasing desirability and the evolving preferences of homebuyers seeking more affordable yet well-located properties.
In the first quarter of 2025, over half of the condo transactions in RCR were priced at $2 million or more, a noticeable increase from 32.9% three years prior. This shift indicates a growing segment of affluent buyers who are willing to invest in city fringe properties, further fueling demand. The inclination of buyers to invest in higher-priced units in the RCR suggests confidence in the area’s potential for continued appreciation and development.
Additionally, new sale condo transactions in RCR accounted for a substantial 61.2% of total transactions in the fourth quarter of 2024, illustrating robust demand despite a decline to 47.4% in the first quarter of 2025. This fluctuation can be attributed to various market factors, including seasonal trends and the anticipation surrounding upcoming projects.
Nevertheless, the overall trend remains positive, with the RCR maintaining a dominant share of the condo market, showcasing its appeal to both homeowners and investors.
Looking ahead, the city fringe is poised for further growth, as upcoming projects and new launches are expected to elevate prices even higher. Analysts suggest that potential benchmarks could exceed $2,800 psf, reflecting the ongoing transformation of the area. With the increasing number of developments and improvements in infrastructure, the city fringe is likely to remain a focal point for both residential and investment opportunities.
NEW CONDO LAUNCH: SOPHIA MEADOW CONDO
Sophia Meadow Condo is set to launch with anticipated prices exceeding $2,800 psf, appealing to buyers prioritizing quality and aesthetics.
With strong demand and high-value transactions in the city fringe, Sophia Meadow Condo units for sale are expected to attract both investors and end-users.
View SOPHIA MEADOW Showflat & Get VVIP Discount. Register or contact 6100 8822 to book showflat appointment.
News Source: Edgeprop
Images are not actual photos. For illustration purpose only.
