On a comment of an analyst in URA’s released residential statistics, launches of private properties in December 2014 halted because developers chose to dispose older developments to steer clear on the escalation of unsold units. From 423 units total sales in November, new private homes plummeted to 230 total unit sales in December which is a 46% decline and is recorded as the lowest sales volume since January 2009 noteed by OrangeTee.

An Executive (EC) unit in Punggol Drive known as The Terrrace is the newest new launch that managed to sell 128 out of its 747 released units with an average price of $813 psf.

“As such, without any changes in housing policies in sight, the primary market is expected to remain sluggish, with pockets of demand appearing when projects are packaged attractively.”, a report added.

Lakeville

The top 5 best-selling condos in the last month of 2014 are as follows:

1. Lakeville – 16 units sold in December

2. Rivertrees Residences (OCR)13 units sold in December

3. The Panorama (OCR) – 12 units sold in December

4. RV Residences (CCR) – 10 units sold in December

5. Riverbank@Fernvale (OCR) – 10 units sold in December