Sales of new private homes up 30% last month

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SINGAPORE – Developers push out nine new projects, but most of the sales came from previous launches

Analysis say the under pressure property developers from a substantial pipeline, launched 9 new developments in May, but the most of May sales are came from earlier launches.

In April, developers sales up nearly thirty per cent, but down fifteen per cent compared to units booked in 2018 May, according to statistic released by the Urban Redevelopment Authority (URA) on 18 Jun 2019.

70.2 per cent May sales were from earlier launches. “It shows that unsold units in previous developments are piling up (but) still offer buyers options.

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URA Realis figures show 3,491 unsold units in new private residential developments as at the 2019 Q1, up from 1,066 units a year ago,” said JLL’s senior director of consultancy & research Mr Teck Hui, Ong.

Mr Ong said OCR projects like The Florence Residences, Parc Komo and Treasure at Tampines are the top options of many entry-level buyers due to attractive median prices around $1,340 psf to $1,497 psf . City fringes projects are also closing well: 51.3 per cent of the units are sold in the RCR in May, up from 43.7 per cent in April.

Source: https://www.straitstimes.com/business/property/sales-of-new-private-homes-up-30-last-month

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