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SG Large spike in new private home sales

Property Here - Monday, July 15, 2013

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New private home sales in Singapore for the month of June rose 24 percent month-on-month to reach 1,806 units, according to data from the Urban Redevelopment Authority (URA). Compared to the same period last year, this is a 32 percent spike. 

Including executive condominiums (ECs), home sales in the month hit 2,119 units compared to 1,912 in May. Meanwhile, developers launched 1,768 new homes compared to the previous month’s 1,521. 

In the first six months of 2013, 11,826 new units were sold, 19 percent lower than the 14,689 recorded in the same period last year. 

As usual, the suburban region saw the majority of home sales with 1,674 transactions recorded, followed by the city fringe with 326 units and the core city centre at 119. 

J Gateway was the highest-selling project in the month. Only one unit remains unsold at the 738-unit condominium project. Its median price is S$1,486 psf. 

Other popular projects in the month were Jewel @Buangkok, which sold 282 units at a median price of S$1,183 psf.  Forestville, an EC in Woodlands, sold 226 units at a median price of S$730 psf.

Recent monthly new private home sales for 2013: 

May 2013: 1,455 (1.912 including ECs)
April 2013: 1,380 (1,552 including ECs)
March 2013: 2,793 (3,072 including ECs)
February 2013: 712 (921 including ECs)
January 2013: 2,028 (2,284 including ECs)
 
Number of new private units (including EC units) launched:

May 2013: 1,521 
April 2013: 1,162
March 2013: 3,489
February 2013: 261 
January 2013: 1,814



Romesh Navaratnarajah
, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg