Private Condos Sales Double
The sale for new launches has been going up almost double in May from a few months ago. This is the result of loan curbs target price-sensitive buyers. However, analysts think that such high profit won’t repeat this month because of school holidays. Also, being distracted by World Cup, buyers don’t such much interest in estate market as well.
Private Condo Sales Increases
Shown in the Urban Redevelopment Authority’s latest report, ever since June 2013, the highest sale was last month with 1,470 private condos which is 96 percent higher than the sale in April with 749 units. The top 5 sale in May brought about 78 percent to the total sales.
1,790 new condo units were introduced in the STR show last month unlike April when there were only 600 units. However, no new executive condos (ECs) were brought to the market, therefore 58 ECs were sold which is 10 more than last April.
More Condo Units sold in May
The two top sellers – Coco Palms and Commonwealth Towers are both situated near MRT stations. What made them top is because of the reasonable price offered to buyers. As a result, most of the the month’s unit launches and sales is from these two estate companies. There were 590 units sold at Coco Palms at the average price of $1,018 per square foot (psf), meanwhile, 275 were bought from Commonwealth Towers for about $1,626 psf.download full film The Circle
With becoming a top seller last month The Panorama in Ang Mo Kio sold 100 units with an average price of $1,241 psf after around 10 per cent was reduced by the developer Wheelock Properties cent in its re-launch last month. In January, only 56 units were sold in the beginning of the project at a price of $1,343 psf.
Despite the fact that not all new launches have good starting point, Oxley’s The Rise@Oxley Residences – the only new launch in the Core Central Region (CCR) just had 8 out of 120 units sold at around $2,452 psf.
The sale is going slow with Sing Holdings’ Singa Hills and Loft 33 when they can only sell two units and 12 units. It seemed like there was no interest in both projects at all.
Together with many new launches consisting of Roxy-Pacific’s Trilive, a grand opening of a freehold project Tampines Road. There are 22 unit in the project and 70-80 percent of them will be dual-key houses which plays and important part in a 2-in-1 apartments.
Meanwhile, a model flat was opened last Saturday by Wing Tai for its 469-unit The Crest at Prince Charles Crescent. In the meantime, another new 109-unit freehold project Amber Skye on Amber Road will be son introduced by China Sonangol Land and OKP Land.
64 percent of the sales were from mass-market suburban the precious month and it also a bit more than a half of total units launched. Following is the suburb condos in the Rest of Central Region (RCR) which accounted for 34 percent sales and 39 per cent units launched. Buyers only bought 32 units in the CCR which is 2 per cent of total island wide sales.