Connect with Us     

NEW LAUNCH PROPERTY - SINGAPORE PROPERTY PORTAL

Connect with Us               

Developer Sales Enquiry: 9789 8770

New Property Dream News Blog

Be Updated Daily with the New Happenings in the Property Market!
"Hit" the 'Subscribe to blog' on your right for Daily Property News Updates!

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
    Login Login form

Sale of 969 private homes, ECs in October

Posted by on in Residential
  • Font size: Larger Smaller
  • Hits: 161
  • Subscribe to this entry
  • Print

new property dream ssg0036

With a solid showing of private home sales last month, developers should close the year on a strong note, even as the government cautioned it could step in to temper overexuberance in the market.

Based on the latest data from the Urban Redevelopment Authority (URA) yesterday (Nov 16), developers sold some 969 new private residential homes and executive condominiums (ECs), an increase of 7 per cent from September.

They also launched more units - 242 homes - during the month, up from 73 homes in September.

Excluding ECs, the 758 private residential units sold last month also represented a 15.4 per cent increase from September.The data was obtained through a survey of developers by URA.

The top-selling projects last month were earlier launches, including Sophia Hills, jointly developed by Hoi Hup Realty and Sunway Developments, Martin Modern by GuocoLand and Qingjian Realty's EC project iNz Residence.

Faced with a limited selection of new projects in the market, buyers continued to purchase units from previous launches.

Also reflecting the improved sentiment towards high-end homes, the two top-selling private residential projects last month were both in the prime region or Core Central Region (CCR). At Sophia Hills, 62 units were sold at a median price of $2,029 psf while at Martin Modern, also in district 9, 47 units went for a median $2,343 psf.

The two low-key project launches last month included The Navian by Roxy-Pacific Holdings in Jalan Eunos, which launched 24 out of 48 units and sold 12 at a median price of $1,543 per square foot (psf). Carpmael Thirty-Eight, developed by private company Lim Wen Heng Construction, launched 16 units.

Some 44 per cent of private homes sold by developers last month were in the suburban region or the Outside Central Region. But it was the CCR which saw the biggest percentage pick-up in transactions - a 143 per cent surge from a month ago and a year ago - to 141 units in October.

Today's CCR property prices, averaging between $2,000 psf and $2,300 psf, are deemed very attractive because new launches in 2018 in the Rest of Central Region (RCR) are predicted to hit well above S$1,700 psf, thus narrowing the price gap between the two.

Most market watchers did not see a dampening of residential buying demand, despite Minister for National Development Lawrence Wong's recent comments to Parliament that the Government would intervene if the property market became too heated, to maintain a stable market.

Nonetheless, while there may be a seasonal easing this month and in December, when there are traditionally fewer new launches, the release of the 735-unit Parc Botannia by Sing Holdings and Wee Hur last Saturday, which sold 230 units over the first weekend, is expected to buoy November sales figures.

Consultants expect primary new home sales by developers to reach 11,000-12,000 units excluding ECs, or 15,000-16,000 units if ECs are included, for the full year.

Last year, developers moved 7,972 private homes and 3,999 ECs.

Credit from: The Straits Times, 16 November 2017

Rate this blog entry:
1
 

 

To all Real Estate Investors and Future Property Owners,

Hello there, this is Sky Chiu, your Singapore Real Estate Advisor, welcome and thank you for reading through to my News Blog! If you would like to be updated with the Property Market Insights, Do Subscribe to my Blog or via RSS on the Top Right of this page!


With 9 years of experience in real estate business, equipped with in-depth property market and new projects knowledge and insights, i committed to give all my valued clients detailed and clearer analysis before they committed to their dream home - whether you are a first time property seller, an experienced property investor, a first time property buyer or a foreigner looking to move into Singapore.


My dedicated services cover my valued clients through the whole process - selling the property at the Highest Possible Price, finding the Right property, negotiating the for the Best Price, to making an Offer and closing the Best Deal. As your Personal Real Estate Consultant, i am here to help you in everything to make the best real estate decision in your life. Your Satisfaction is My First Priority!

 
Phone Support

 

YOUR DEDICATED PROPERTY ADVISOR

We have a group of very experienced property advisors with in-depth property market and new projects knowledge and insights to give our clients a detailed and clearer analysis before they committed to their dream home from us.

We identify our clients' needs, help them to restructure and maximise their property portfolios. We successfully advised and helped our clients on their loan restructuring and financial timeline management on their property investment.

Contact Us for An Non-Obligatory Discussion Today!

 

DIRECT DEVELOPER PRICE

Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum

 

DIRECT DEVELOPER PRICE

Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum

 

NO COMMISSION

Danish candy sesame snaps sugar plum candy canes sweet donut sugar plum