Condominium Sales Singapore: Up or Down in June?

URA Figures in May have shown that property developers have sold 1024 private homes in May, down 34 percent from units sold in April.

Seaside Residences and Arta was the two major projects that hit in market in the previous month, latest numbers from URA has shown. The lack of new launches in May contributed to the drop in Sales.

Despite the slowdown, newly launched projects managed to find buyers in several areas. Parc Riviera was the leader the in private condominium sector with 83 units sold at a median price of $1246psf, followed by The Santorini (64 units, median price $1,022 psf), Commonwealth Towers (53 units, median price $1,841 psf), Kingsford Waterbay (51 units, median price of $1,162 psf)

Executive condominium (EC) units, a public-private housing hybrid did not disappoint. Sol Acres EC was the best selling residential project. It is a newly sought after development in Choa Chu Kang,moving 115 units at a median price of approximately $794 psf.

June sales activity is expected to hold up despite the June School holidays.

Hundred Palms Residences Condo Singapore Swimming Pool 2

However, several developers are launching major projects July – Hundred Palms Residences EC situtated next to Serangoon North along Yio Chu Kang Road, Martin Modern in Martin Place, and also expected to launch in Bukit Batok is Le Quest, all 3 projects expect to yield a total of 1,497 homes.

In July, sales volume are also expected to rebound as these projects are put up for sales to the public, and typically, buyers demand do pick up lunar seventh month (22nd August to 19th September) – as this period is considered inauspicious by the Chinese for making assets, especially property purchases.

  1. We welcome any feedback, questions or comments
Search Condotown here: