Executive condominiums top list for private sales in Aug

Amid a lack of new residential project launches last month, executive condominiums (ECs) turned out to be best sellers.

Developers sold a total of 805 private residential units and EC units last month, down from July's 1,921 - with ECs taking up 41 per cent of the sales volumes last month.

Excluding ECs, some 473 private residential units were moved last month, about 8 per cent fewer than a year ago.

But this marked a 57 per cent plunge from the active month of July, though the number of units launched (590) last month was only 5 per cent fewer than in July.

The numbers were collated by the Urban Redevelopment Authority through a developers' survey.

The only project launch in August was Victoria Park Villas, CapitaLand's 99-year-leasehold landed project in District 10.

It sold only one unit in August at $1,981 per square foot (psf) based on land area but had earlier moved seven units prior to its official launch.

The top three sellers last month were EC projects.

Sim Lian's Treasure Crest in Sengkang sold 56 units at a median price of $745 psf, followed by MCL's Sol Acres in Choa Chu Kang where 46 units moved at a median $781 psf.

Qingjian Realty sold 37 units in its Woodlands EC project Bellewoods at a median $769 psf.

This article by The Business Times was published in MyPaper, a free, bilingual newspaper published by Singapore Press Holdings.