Singapore new private home sales picked up in October

SINGAPORE – Two condo launches lifted new private home sales in October after September saw the lowest sales for the year.

A total of 546 private homes were sold by developers last month, up 60 per cent from the 341 private homes sold in September, according to Urban Redevelopment Authority (URA) figures released on Monday (Nov 16).

However, last month’s sales were about 30 per cent lower than the 785 units moved in October 2014.

Thomson Impressions and Principal Garden condominiums which were launched in the last weekend of October, contributed 35 per cent to October’s sales.

Principal Garden, a joint development by UOL Group and Kheng Leong at Prince Charles Crescent, was the top seller with 113 units sold, at a median price of $1,633 per square foot.

Nanshan Group’s Thomson Impressions at Lorong Puntong sold 80 units at a median price of $1,399 psf.

A total of 434 new private homes were launched last month. This is a turnaround from August and September, when no new condominiums were launched amid the Hungry Ghost festival and Singapore’s general election.

Across regions, 25 homes in the central region were sold, compared with 20 in September. In the city fringes, 280 homes were sold, up from 68 and 241 units were sold in the suburb, down from 253.

Including executive condominiums (ECs), 822 units were sold in the month, up from 628 in September.