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Singapore Property News

Developers sold 729 private homes in April, up from 716 in March, but down 53.5% y-o-y

DEVELOPERS sold 729 private homes in April 2018, up slightly from the 716 units in March 2018 but down 53.5 per cent from the 1,567 units in April 2017.

Posted on 15-May-2018

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Developers sold 729 private homes in April, up from 716 in March, but down 53.5% y-o-y

DEVELOPERS sold 729 private homes in April 2018, up slightly from the 716 units in March 2018 but down 53.5 per cent from the 1,567 units in April 2017.

These figures were released by the Urban Redevelopment Authority on Tuesday based on its survey of licensed housing developers.

The above figures exclude executive condominium or EC units which are a public-private housing hybrid.

Including ECs, developers moved 1,325 homes last month, up 68.1 per cent from the 788 units they had moved in the previous month but 31.6 per cent lower than the 1,938 units they had sold in April last year.

The top-selling project last month was Rivercove Residences, an EC project along Anchorvale Lane in the Sengkang area. Its developer, a Hoi Hup Realty -Sunway Developments joint venture, moved 512 units in April at a median price of S$970 per square foot. This is the sole EC launch for this year.

In Paya Lebar Road, a joint venture between Lendlease and Abu Dhabi Investment Authority, sold 166 units at Park Place Residences at PLQ, a private residential development, at a median price of S$2,060 psf in the second-phase launch of the 429-unit development. The median price is about 14 per cent higher than the S$1,805 psf median price achieved for the 217 units that were sold during the first phase of the project's launch in March last year, based on URA data.

Oxley Holdings found buyers for 141 units at The Verandah Residences in Pasir Panjang Road at a median price of S$1,846 psf. Roxy-Pacific Holdings sold 52 units at Habour View Gardens, also in Pasir Panjang Road, at S$1,763 psf median price.

City Developments sold 51 units last month at The Tapestry in Tampines at S$1,391 psf median price.

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