New private home sales surge four-fold in July to 2-year high: URA

New private home sales in Singapore rose more than four-fold in July from June – reaching a two-year high – with the bulk of sales involving one development.

Data from the Urban Redevelopment Authority (URA) on Wednesday (Jul 15) showed developers sold 1,594 private residential units in July compared with 375 units sold in June.

The 1,390-unit High Park Residences, located on Fernvale Road in Sengkang, offloaded 1,169 homes at a median price of S$989 per square foot (psf). The development was the only new condominium project in July and was also the best-selling project.

Including executive condominiums (ECs), sales by developers rose to 2,089 units compared with 485 units in June. This was also largely contributed by two new launches, which propped up the number of launched units to 1,155 in July. There was no new EC launches the month before.

The Brownstone on Canberra Drive was the best-selling EC development last month with 187 sales at a median S$818 psf. The other new launch, The Vales, registered 79 transactions at a median of S$788 psf.

Source : Channel NewsAsia – 17 Aug 2015

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