Sales of new private homes up last month

Sales of new private homes up last month
Grandeur Park Residences will be launched in the coming weeks.
PHOTO: CEL Development

Demand for new private homes appears to be on an upswing, with sales surging last month.

Developers sold 381 units last month - 17.6 per cent higher than the 324 units moved in the same month last year.

It was also 3.8 per cent higher than the 367 sold in December last year.

Condominiums in the suburbs made up the bulk of the sales, with 238 units moved.

The top-selling residential projects were Parc Riviera and The Trilinq.

R'ST Research head Ong Kah Seng noted that 184 executive condo (EC) units were sold last month, although no new project was launched.

He said EC sales improved last year, with an estimated 4,069 units sold compared with 2,613 in 2015.

Mr Ong attributed the rise to developers cutting prices.

Experts usually expect muted sales due to Chinese New Year, with launches lined up for the period after the holiday.

Grandeur Park Residences, Park Place Residences and Seaside Residences will be launched in the coming weeks.

The URA figures exclude ECs. With these factored in, developers sold 565 units last month, 17.7 per cent higher than in January last year.

This article was first published on February 16, 2017.
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