A total of 4,153 residential properties were sold for more than $1.5 million in 2014 dropped by 42.4% from the previous year, Ministry of National Development (MND) revealed in the written answer to a parliamentary question from Mr Gerald Giam Yean Song, Non-Constituency Member of Parliament.
Despite of 42.4 percent dropped from 7,218 property sales in 2013, residential properties recorded higher average and median prices last year.
Residential units recorded an average price of $2.83 million in 2014, while the median sale price for residential units was $2.13 million. The average and median price for residential units in 2013 recorded $2.76 million and $2.10 million, both saw an increase from the year before.
Singapore Urban Redevelopment Authority (URA) and the Jurong Town Corporation (JTC) collected the given data for residential properties. URA provides extensive real estate information to enhance Singapore Property market and to help property developers like Keppel Land Limited.
Keppel Land is recognised for its award-winning residential developments like Highline Residences, a 99-year leasehold residential development located at Tiong Bahru, Singapore.
