The overall private properties’ prices increased by 2.2% and new home sales hit a total of 9,982 units in 2020 despite that Singapore’s average GDP shrank as various sectors were hit badly by covid-19. The continuous low borrowing rates encourage buyers to commit to their purchases and restructure their properties’ portfolio in anticipation that there may be new cooling measures which will make the purchase more challenging. The Florence Residences has achieved close to 70% sales since its initial launch in early March 2019. Barely less than 2-years it has sold close to 1,000 units with balance close to 400 units up for sales. As the supply of new condos in District 19 become low, it is unavoidably that The Florence Residences will have higher demand as future land cost is higher which makes The Florence Residences affordable. We will still observe a good run for brand new launch in 2021 with the continuous pent-up demand in 2021.

Source: The Business Times

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