INTRODUCTION

Singapore is a small island nation located in Southeast Asia, known for its vibrant economy, stunning architecture, and bustling urban landscape. The residential property market in Singapore has been a topic of interest for investors and homeowners alike, with prices fluctuating based on various economic factors. In this article, we will take a closer look at residential projects prices in Singapore and how they've changed in recent years.

2021 WAS RECOVERY FROM COVID 19 IMPACT?

In 2021, the residential property market in Singapore showed signs of recovery from the impact of the COVID-19 pandemic. The Urban Redevelopment Authority (URA) reported that private home prices in Singapore rose by 0.8% in Q1 2021, marking the fourth consecutive quarter of growth. This was largely driven by an increase in demand for larger homes with more space as people spent more time working from home.

NOTABLE RESIDENTIAL PROJECTS

 One of the most notable projects which is currently underway right now is Lentor Hills Residences. It is a private residential development located in District 20 of Singapore. The address of the development is 2 Lentor Drive, Singapore 786456.

LENTOR HLLS RESIDENCES

The Lentor Hills Residences development consists of 7 blocks of 20-storey residential buildings, with a total of 600 residential units. The unit’s range in size from 1-bedroom apartments to 5-bedroom penthouses. Lentor Hills Residences Price is very much according to the market. To know exact Lentor Hills Residences price you will have to contact developers. You can get the Lentor Hills Residence price list from the website or you can get it simply registering yourself on their website as well.

Residents of Lentor Hills Residences can enjoy a range of facilities, including a swimming pool, tennis court, fitness corner, and clubhouse. The development is also located close to amenities such as shopping malls, schools, and parks.

In terms of transportation, Lentor Hills Residences is located close to the Lentor MRT station on the Thomson-East Coast Line, which is expected to be completed in 2021.

AVENUE SOUTH RESIDENCE

Another notable residential project in Singapore is the Avenue South Residence, which is in the Greater Southern Waterfront area. The project was launched in September 2019 and features two 56-storey residential towers with a total of 1,074 units. The development is expected to be completed in 2023 and offers a range of unit sizes from one to four bedrooms, with prices starting from around SGD 1.15 million.

THE REEF

The Reef at King's Dock, located in the Keppel Bay area is also worth mentioning. The development is a joint venture between Keppel Land and Maple tree Investments and comprises ten residential blocks with a total of 429 units. The development features one to three-bedroom units with prices ranging from SGD 960,000 to SGD 2.8 million.

PUBLIC HOUSING MARKET

In addition to private residential projects, Singapore also has a thriving public housing market. The Housing and Development Board (HDB) is the government agency responsible for providing affordable housing for Singaporeans. In 2021, the median resale price of HDB flats in Singapore was SGD 450,000, with prices varying depending on the location, size, and age of the property.

CONCLUSION

Despite the impact of the pandemic, Singapore's residential property market remains resilient. The government has implemented various measures to ensure the stability of the market, including restrictions on the number of private homes that can be developed each year and tighter regulations on mortgage lending. While prices may continue to fluctuate based on economic conditions, Singapore's strong economy and stable political environment make it an attractive destination for property investors and homeowners alike.