Jun 16, 2015

    New private home sales down in May

    SALES of new private homes were down last month as only one new project was introduced to the market.

    Developers sold 638 private homes in the month, 45 per cent down from 1,167 units in April, according to figures released by the Urban Redevelopment Authority (URA) yesterday.

    Just 499 private homes were launched last month, 64 per cent down from 1,382 units launched in April.

    Compared with May last year, sales of new private homes were down 57 per cent while launches were 73 per cent lower.

    Another 207 executive condominiums (ECs) were sold by developers last month, taking the total residential units sold by developers to 845 units.

    The top seller in May and the only project launched in the month was Westwood Residences, an EC project by Koh Brothers and Heeton Homes.

    A total of 118 units out of the 480 units in the project were sold at a median price of $803 per sq ft (psf).

    UOL's Botanique at Bartley saw 94 units sold at a median price of $1,292 psf, bringing its total sales tally to 345 units since its launch in April.

    Frasers Centrepoint's North Park Residences in Yishun moved another 59 units last month at a median $1,397 psf, bringing the project's total cumulative sales to 538 units since its April launch.

    The data was obtained through a survey of developers by URA.