Property developers recorded 805 unit sales in August, 58.1 percent less than the 1,921 units sold in July. The sales included those of executive condominiums. On a year-on-year basis, the sales reduced by 17.8% from 979 recorded in August 2015. The month did not have any new launch of private non-landed projects.
The reduced August sales by developers are in part caused by an absence of new project launches and it does not indicate the direction headed by the market,” said Ong Teck Hui, JLL national director of research and consultancy.
Ong further noted that the resale market showed that buyers were as active in August with 762 caveats recorded, as they were in July with 752. He said that it is an indication that buyers are still quite positive of the residential market since March when there was an improvement in sentiments.
Lake Grande by MCL Land was the month’s best seller having sold 35 units at an average price of $1,317 psf. The next in line was The Trilinq, which sold 30 units at an average price of $1,413 psf. The Glades took the third position having sold 22 units at an average price of $1,415 psf. Sims Urban Oasis took the fourth position with 20 units sold at an average price of $1,383 psf while Kingsford Hillview Peak took the fifth place with 19 units sold at an average price of $1,282.
In the Executive Condominium segment, sales reduced by 60% to 332 units sold in August from 830 units sold in July. Treasure Crest by Sim Lian sold the majority of units in the month with 56 units selling at an average price of $ 745 psf. Next was Sol Acres which sold 46 units at an average price of 781 psf. The third was Bellewoods which had 37 units sold at an average price of $769 psf. The Vales took the fourth place with the sale of 28 units at an average price of 808 psf while The Terrace sold 21 units at an average price of $783 psf.