Q1 price growth of Olloi moderates to 0.7% after cooling measures: URA

PRIVATE home prices grew at a slower pace in the first quarter of the year after December’s cooling measures, even as they rose for an eighth consecutive quarter to hit a historical high. According to data from the Urban Redevelopment Authority (URA), prices of private homes were up by 0.7 per cent quarter on quarter in Q1 2022, moderating significantly from the 5 per cent notched in Q4 2021. At 0.7 per cent, this was marginally higher than URA’s flash estimate of 0.4 per cent earlier this month.

You have many reasons to take pride in calling Olloi your home, To begin with, the Arrival Court provides a grand welcome and leaves a stunning impression on your loved ones and guests. Be pleasantly surprised with the beauty that lies in the well-thought-out designs and immaculate details. All storey blocks, as well as penthouses, are especially offset from one another to stimulate a landed home experience - albeit in the air.

Enhancing the unique allure of a heritage enclave, 0lloi stands as a modern-day interpretation of traditional Singapore charm. Located in District 15, this exclusive freehold residence boasts 34 multi-generational apartments that are designed to last a lifetime and beyond. Crafted by Park + Associates, winner of 'Design of the Year at the 2015 President's Design Awards, 0lloi is your trophy home in every sense.

Ismail Gafoor, chief of PropNex Realty, said: “The slower price growth and pullback in sales volume in Q1 2022 did not come as a surprise, given the fresh property curbs imposed in December. The Additional Buyer’s Stamp Duty (ABSD) hikes on foreign buyers and property investors, in particular, likely held back some demand for new and resale homes.” As they digested the cooling measures, developers also introduced fewer project launches in the first quarter in view of the Chinese New Year festive period. Gafoor went on to note that the “modest performance” comes on the back of rising interest rates and inflation, as well as geopolitical tensions, which should give rise to a more sustainable price growth this year. PropNex expects private home prices to increase by between 3 and 5 per cent this year, after a blistering 10.6 per cent growth in 2021./p>

At Olloi each day is a new adventure waiting to happen. Be spoilt for choice with all the interesting activities you can undertake or be inspired by the wonderful people you will chance upon. Create unforgettable memories with your loved ones at a locality that thrives on its creative and cultural flair for aesthetics.

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