Sales of private homes reach new highs in July

Sales of uncompleted private homes reached a new high last month.

The number of units sold surged more than 50 per cent from June, as improving market sentiments spurred more home buyers to snap up properties.

A total of 2,767 units were sold in July, up from 1,825 in June.

The developments that sold the most units last month were The Gale, Meadows@ Peirce, Waterfront Key, Sophia Residences and Parc Imperial.

These five projects made up nearly 40 per cent of total sales.

The median price for these projects ranged between S$696 and S$1591 per square foot.

In terms of high-end homes, developers sold a total of 410 units that had a median price of above S$1500 per square foot.

Sales of mass-market developments also remained strong.

Projects that had a median price of less than S$900 per square foot made up 45.2 per cent of the total units sold.

Property firms launched a total 2878 units last month, up 76 per cent compared to June.

Source : Channel NewsAsia – 17 Aug 2009

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