As the real estate market evolves, the city fringe, or Rest of Central Region (RCR), has emerged as a vibrant area for private home prices, particularly in the condominium sector. Recent data indicates a noteworthy shift in market dynamics, with RCR condos demonstrating resilience and significant price growth that outpaces traditional prime areas.
In the fourth quarter of 2024, the median price of RCR condominiums reached an impressive $2,466 per square foot (psf), surpassing the Central Core Region (CCR) by 9.7%. This trend reflects a growing interest in the city fringe as a desirable location for home buyers and investors alike.
The growth trajectory for RCR condos has been remarkable, with prices soaring by 32.4% from $1,822 psf in the first quarter of 2022 to $2,413 psf in the first quarter of 2025. In contrast, CCR condos experienced a decline of 1.6% during the same period, highlighting a clear divergence in market performance.
This extraordinary increase in the RCR indicates not only a recovering economy but also a shift in buyer preferences, with more individuals opting for the amenities and lifestyle offered by the city fringe.
The demand for high-value properties in the RCR is underscored by the fact that over 50% of condo transactions in the region were priced at $2 million or more as of the first quarter of 2025. This strong demand illustrates a willingness among buyers to invest in upscale properties outside the traditional prime areas, suggesting that the city fringe is becoming a competitive alternative.
The appealing blend of accessibility, amenities, and emerging developments are contributing factors to this trend.
Moreover, the RCR has witnessed robust interest in new condo projects, with new transactions accounting for 61.2% of the total transactions in the fourth quarter of 2024. Although this figure saw a slight decrease to 47.4% in the first quarter of 2025, it still reflects a significant appetite for new launches in the region.
The anticipation surrounding upcoming projects on Government Land Sale (GLS) sites further reinforces the expectation that prices may continue to rise, potentially reaching new benchmarks exceeding $2,800 psf.
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News Source: Edgeprop
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