New private home sales jump in March with more projects launched

SINGAPORE – Demand for new private homes in March surged as developers launched more projects last month.

According to the Urban Redevelopment Authority (URA), 843 new homes were sold last month, more than double the 303 units in February. It was also more than one-third, or 37.5 per cent, higher than the 613 units sold in March last year.

The rebound followed slower sales in February owing to fewer launches, and the Chinese New Year holidays – a traditionally lull period for property sales.

Last month, developers launched 682 new private homes, an increase from February’s 209 units.

Two of the new launches – Cairnhill Nine and The Wisteria – were the top selling private projects in March.

Cairnhill Nine sold 177 units, while 125 units changed hands at The Wisteria, URA data showed.

In the executive condominium (EC) category, Wandervale at Choa Chu Kang, the first EC project launched this year sold 292 units of 534 units launched during the month.

Including ECs, sales came in at 1,328 units in March, tripling the total sales of 433 units in the previous month.