Fewer private homes were sold in April 2017 in comparison to March. According to the 15 May data by Urban Redevelopment Authority, the new private residential houses sold by developers in April were 1,555, a reduction of 12.6% from the 1,780 units sold in March. However, there were 3 new launches in April comprising of The Brooks I & II located at Springside Walk, Artra on Alexandra View and Seaside Residences on Siglap Link.
The private residential development with the highest sales in the month was Seaside Residences. The project located along Siglap Link had 419 fetching $1,735 psf average Seaside Residences prices. The second position was Artra located on Alexandra View that had 126 units sold at $1,646 psf average Artra price. The third project was Parc Riviera that had 90 units at $1,246 psf average price.
The month did not have any new Executive Condominiums (EC) launched. However, developers sold 371 units ECs with the best-seller in the month being Sol Acres located in Choa Chu Kang Grove selling 122 units fetching $787 psf average price. The Visionaire located at Canberra Drive followed having 53 units sold at $810 psf average price while Parc Life at Sembawang Crescent sold 33 units at $ 774 psf average price.
“A tendency of more activities in the property market and the recovering of buyer confidence have led to higher sales numbers including in projects which were launched earlier or are close to their T.O.P. dates,” said PropNex Realty CEO, Mohamed Ismail.
Ismail noted that more buyers will realize that there is bottoming out of the property market and it is possible for the prices to go up since the land bid prices are strong as it is being witnessed currently. It is likely that 2017 will have more those 15,000 transactions including the ECs and 10,000 transactions excluding ECs.