Urban Redevelopment Authority (URA) data indicated a decrease in sales of private homes in Singapore last month. Developers noted to have sold only 230 new private homes in December 2014 which is lower than the 423 units sold in November 2014. URA further unveiled that according to their latest data, there is a notable ease in the demand for new private homes in Singapore as of December 2014. In the course of the month, developers were able to launch only 53 new units for sale and it does not include the executive condominiums. The prime selling project in December was Lakeville in Jurong and it has sold 16 units.
Developers placed for sale a total of 800 units. 406 units managed to work out a deal last month which includes Executive Condominiums. This proves that the mass market segment still moves ahead to lead sales with 134 units being sold. In addition, 61 units were sold in the city frontier and 35 units in the heart of the Central District. The best headliner in the EC segment was the Terrace in Punggol which was able to sell 128 units.
The glaring decline of Home sales in Singapore is associated with the Government's act on loan spurn and a string of cooling measures in the latter years.
Going forward in 2015, new home sales set to rise especially on the 1st quarter with some interesting long awaiting launches namely Northpark Residences @ Yishun and, Sims Urban Oasis @ Sims Drive and Botanique @ Bartley.