About New Private Homes Sales Witnessed a Drop in April | The Urban Redevelopment Authority (URA) data on Monday, 17 May disclosed the drop of new private home sales in Singapore. In April, the unit plunged to 1,262 which is equivalent to 2.6%.
Also, the executive condominiums of new home sales reduced to 1,342 units, that’s 2.3% month-on-month.
Moreover, the Rest of the Central Region (RCR) registered bulk sales the previous month at 40.2% the second being the Core Central Region (CCR) at 35.2% and 24.6% outside of the Central Region (OCR).
However, in April, Irwell Hill Residences came out as the best-selling development with a change of 315 units. The second in the same month was One-North Eden that sold 141 units, followed by 81 units Normanton Park, 49 units Treasures at Tampines, and lastly 35 units Amber Park.
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In addition, among the top ten in the list, some projects that showed excellent sales include Ki Residences at Brookvale, The Florence Residence, Fourth Avenue Residences, Avenue South Residence, and Parc Clematis.
The Senior Vice-President of Research and Analytics at Orange Tee and Tie, Christine Sun said, “The performance of the sales for the entire market is excellent despite a mere drop in sales volume in light of a bigger proportion of pricier homes being sold and no new mass development were created.”
Huttons Asia added that this is the 17th time such a huge sale was witnessed ever since June when the circuit breaker measures were raised. “Since 2017, it is likewise the best April sales witnessed.” He added.
In the same vein, Sun said, “The measure of non-landed homes apart from executive condominiums fetched exceedingly S$2,000 per sqft. jump from 26.2% in January and 38.8% to 55.4% in February and April consecutively in 2021, signaling a demand and cravings for expensive homes.”
Also, she disclosed fourteen new-non landed homes were fetched for about S$5 million in the previous month, with a 470 sqm apartment at 15 Holland Hill being the costly unit.
Nonetheless, 81.5% of the entire sales were accounted for by the Singaporeans in April and 13.5% and 5% by the permanent residents and foreigners consecutively said Huttons.