Sep 16, 2014

    Private home sales drop in August

    SALES of new homes were stagnant again last month, with developers selling 432 private homes.

    This was a 15 per cent drop from the 509 private condominium and apartment units moved in July.

    The number of new homes sold last month was 23 per cent more than the 351 homes that were launched, indicating that buyers went for units at projects launched earlier in the year.

    The top seller was The Panorama in Ang Mo Kio Avenue 2, which moved 40 units at a median price of $1,249 per square foot (psf).

    Other popular developments included Coco Palms at Pasir Ris Grove, with 23 units sold at a median price of $1,046 psf, and Eight Riversuites at Whampoa East, which sold 22 units at $1,345 psf.

    While there were no executive condominium (EC) launches last month, 58 EC units were sold.

    A major contributor was Waterwoods EC at Punggol Field Walk, which sold 28 units at a median price of $813 psf.

    After including the number of ECs sold, a total of 490 new private homes were sold last month, a 13 per cent drop from July.