New home sales mark 39% uptick in November

Developers sold a total of 759 private residential units in November, a 39 per cent uptick from 548 units sold in October and representing a 79 per cent jump from a year ago.

The top selling project last month was MCC Land’s The Poiz Residences in Potong Pasir that was launched during the last weekend of November and sold 277 units at a median price of S$1,440 per square foot (psf).

This was followed by CapitaLand’s Sky Vue, a project that was first launched in September 2013. The Bishan condominium project moved another 59 units at a median price of S$1,522 after the developer purportedly slashed prices by up to 10 per cent or S$150,000 according to marketing materials. Still, Sky Vue’s 2013 median price was lower at S$1,401 psf.

UOL Group sold another 45 units last month at Principal Garden at a median price of S$1,626 psf, while GuocoLand moved 39 units at Sims Urban Oasis at a median S$1,338 psf.

Nanshan Group’s Thomson Impressions moved another 38 units at a median S$1,396 psf, bringing the total units sold since its launch in late October to 113 units.

Including executive condominiums, the public-private hybrid, developers sold a total of 945 units in November, data from the Urban Redevelopment Authority shows. This is 15 per cent higher than in October when 823 units were sold but 26 per cent lower than in November 2014.

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