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Sales of new private homes jumped 39 per cent last month from October, mainly due to the high take-up at the newly launched The Poiz Residences in Potong Pasir, a showing analysts said signalled steady underlying demand for projects that are in good locations and attractively priced.

Transaction volumes are likely to pick up next year, the analysts said, with prices expected to drop as developers are under pressure to offload unsold homes to avoid paying the Additional Buyer’s Stamp Duty (ABSD). Developers will be subject to an ABSD — introduced in Dec 2011 — if they fail to complete a residential project and sell all its units within five years.

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Housing will remain affordable for Singaporeans, Prime Minister Lee Hsien Loong pledged yesterday, as he gave a recap of the progress made on that hot-button issue since 2011.

In the last three years, 52,000 flats have been built, the equivalent of two Clementi new towns.

The amount of subsidies given out for flats has almost doubled.
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Resale prices fell last month as cheaper units at property launches tempted buyers to look for new homes.

Prices overall fell 1 per cent in April from March and followed a revised 1.4 per cent dip in March from February, according to Singapore Residential Price Index flash estimates yesterday.
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The Housing & Development Board (HDB) is set to launch more projects in Tampines North, Punggol Matilda, and Bidadari regions - the three new towns that were identified for further development under the Draft Master Plan 2013.

In the second half of this year, housing projects will be launched in Tampines North and Punggol Matilda, followed by Bidadari in the second half of 2015.
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About 80 per cent of the units in a condominium being developed in Kovan will be dual-key apartments, which suit multi-generational families - and owners aiming to avoid stamp duty.

All 94 of the three- and four-bedders at the 222-unit Trilive, and 88 of the 124 two-bedders, will feature two separate entrances.
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