Data from the Urban Redevelopment Authority (URA) showed that in October, the sales for residential units rose up to 18%- compared to the numeric of last month (September). Developers were able to sell a staggering 765 units for that month alone!
To PropNex, a renowned property developer in Singapore, companies now are running sales after sales by introducing new projects in order to meet existing demand. They are stepping up their game before the festive season starts, which render few sales.
Released units last October totaled to 649- around 26% increase from September sales.
Even though the sales over residential properties are quite slow or soft this year, some projects tend to attract significant attention to seekers. PropNex believes that aside from the price, what attracted buyers over the projects is their location.
The projects that dominated the property market in October were as follow:
Marina One Residence (Near Marina Bay MRT)- This project is developed by M+ Limited. It is a waterfront project that stands 34 floors high and houses a total of 1042 units. Its unit mix include 1 bedroom units, 2+ study, 2 bedroom units, 4 bedroom units, 3 bedroom units and penthouses (4 rooms). Tenure is 99 years. Its median price is $2,228 psf and units sold as of this time is 334 units.
Coco Palms (Near Pasir Ris MRT)- This project is developed by Home Realty Pte Limited. It stands 12-16 floors high (around 12 blocks of buildings) and houses 944 units + 6 commercial shops. Its unit mix range from 1 bedroom units up to 4 bedroom units. Tenure is 99 years. Its median price is $1340 psf and units sold as of this time is 32 units.
Lakeville (Near Lakeside MRT)- This project is developed by MCL Land Pte Limited. It stands 16 floors high ( 6 blocks of buildings) and houses 696 units. Its unit mix range from 1 bedroom units up to 5 bedroom penthouses. Tenure is 99 years. Its median price is $1,039 psf and units sold as of the moment is 32 units.
The Skywoods (Near Hillview MRT)- This project is developed by Bukit Timah Green Development Pte Ltd. It stands 15 floors high and houses 420 units. Its unit mix range from 1 bedroom units to 4 compact bedroom units. Tenure is 99 years. Its median price is $1,267 psf and units sold as of this time is 21 units.
