There were 4,153 residential properties sold for more than $1.5 million in 2014, revealed the Ministry of National Development (MND) in a written reply to a query by Non-Constituency Member of Parliament Mr Gerald Giam in parliament yesterday.
Although this is down 42.4 percent from 2013 when 7,218 sales took place, both the average and median prices achieved were higher last year.
The average price of the residential units in 2014 was $2.83 million, while the median price was $2.13 million. The average and median price the year before was $2.76 million and $2.10 million respectively.
The data was collected by the Urban Redevelopment Authority (URA) and the Jurong Town Corporation (JTC). They cover private property transactions and do not include HDB properties and executive condominiums, noted MND.