Excluding executive condominiums (ECs) units, about 536 new private homes has been sold by Singapore property developers last June. According to the latest data released by the Urban Redevelopment Authority (URA), Singapore new private homes recorded a 50 percent down from 1,065 total units sold in May.
Sales dropped of new private homes can be attributed to the small number of new units launched last month. Only 234 units were issued to home buyers, translating by more than 80 percent down from the months of May.
According to JLL Singapore, the only new home project launched last month was the 8-unit landed housing properties at East Coast Terrace.
Head, CBRE Research, Singapore and South East Asia, Mr Desmond Sim noted that the lack of major new home launches found home buyers to go for existing projects.
The best-selling Singapore condo project recorded last June was Kingsford Waterbay located at Upper Serangoon View, the project sold about 34 units with an average price of $1,185 psf. Another best-selling project was The Glades at Tanah Merah, which sold 32 units at $1,402 psf median price.
Meanwhile, despite of this record, Singapore developers sold a total of 3,763 units for the first half of 2016, resulting to 9.8 percent higher compared to 3,427 total units sold in H1 2015.
Written by Siang Teck of Property Review. I can be contacted at [email protected]
