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SG Unexpected jump in new home sales

Property Here - Monday, December 16, 2013

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Sales of new private homes picked up in November with developers selling 1,228 units, according to data released on Monday by the Urban Redevelopment Authority (URA). 

This is a jump of about 18 percent from the month of October. 

Including executive condominiums (ECs) which are a public-private housing hybrid, 1,714 units were sold last month, or a 35 percent increase from the previous month.

Developers also took the opportunity to launch more private housing units, with 2,172 units launched in November compared to 1,124 previously. 

The top three best-selling projects were DUO Residences in Bugis, which sold all of the 600 units released at a median price of S$1,999 psf. This means that there are only 60 residential units left for sale. This was followed by SkyPark Residences, an EC development in Sembawang, which moved 271 of the 506 units launched at S$800 psf. Lastly, the 429-unit Alex Residences near Redhill MRT station sold 171 of the 200 units released at S$1,706 psf. 

Meanwhile, three projects sold units at more than S$3,000 psf. They are Twin Peaks in the Core Central Region (CCR) which sold one unit at S$3,502 psf, Bishopsgate Residences (CCR) which moved one unit at S$3,400 psf, and Clermont Residence (CCR) which sold 13 apartments all above S$3,000 psf, with the highest at S$3,173 psf.