Ms Christine Li, head of research and consultancy at OrangeTee, told The Straits Times: "It has become less common for developers to sell at this price level (or under $1,000 psf) amid rising land prices.
"Our estimates for upcoming launches in the second half of this year, assuming developers get a 20 per cent profit margin, show that none of them are selling units at less than $1,000 psf."