Private home sales reaches four-month low

Private residential home sales in February continued to fall, reaching a four-month low.

Data released on Tuesday by the Urban Redevelopment Authority (URA) showed that 1,101 private homes were sold last month.

That is an 8.9 per cent drop from the 1,209 units sold in January. Including Executive Condominiums, the total sales would have reached a total of 1,228.

The suburban region which saw the most sales, with about 737 units sold while the city fringe areas sold about 223 units. The central region saw the least sales with 141 units sold.

Chalking up the best sales was Waterfront Isle at Bedok Reservoir Road, which sold 282 units at a median price of S$997 per square foot.

The best selling EC was the Austville Residences at Sengkang East Avenue, which sold 63 units at a median price of S$721 per square foot.

Executive condo Esparina Residences sold the cheapest unit at S$503 per square foot.

Meanwhile, the most expensive property sold in February was Tomlinson Heights at Tomlinson Road, where one unit was sold at S$3,277 per square foot.

1,710 units were launched in February, an increase of 500 units from the previous month.

Analysts said the spike is due to more launches by property developers after the Lunar New Year.

Source : Channel NewsAsia – 15 Mar 2011

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