Compared to their sales last September, Singapore developers were ecstatic as the figures skyrocketed by as much as 60 percent during October. According to the Urban Redevelopment Authority, the sales during September for non-landed homes were 341 units. On the other hand, October sales reached 546 private non-landed units.
Principal Garden, from Kheng Leong Company and UOL Group, sold about 113 units with an average price of SG$1,633 psf. Meanwhile, Nanshan Group and Vico Construction’s Thomson Impressions sold about 80 units for its price worth SG$1,399 psf.
The big increase in sales is also due to the latest development launches within the city fringes. But this does not include the launches for high-end condominiums. The Rest of Central Region is accounted for more than 50 percent of the sales recorded for October. Meanwhile, the developments in the Outside Central Region are responsible for 44 percent of the total sales for the said month.
Aside from the first two developments mentioned, other projects that are responsible for the increase in October sales include Sims Urban Oasis from GuocoLand, which sold 46 units. However, they sold these units for only SG$1,285 psf, an 8 percent decrease from its introductory price of SG$1,400 when it was launched months ago.
If the URA records would include the sales from executive condominiums, there will be about 822 units sold during the month of October. There were 41 units from Criterion in Yishun for SG$805 psf. Unfortunately; EC units are no longer selling like hotcakes unlike before. With an average selling price of SG$800, many are no longer interested to commit to EC investments.
Most of the property consultants are still feeling optimistic that after the holiday, the sales of EC will rise again come 2016. MCC Land will soon launch their new projects in Singapore namely The Poiz Residences and the retail project called The Poiz Centre located at the Meyappa Chattiar Road and Upper Serangoon Road.