{"id":11004,"date":"2016-04-20T12:26:48","date_gmt":"2016-04-20T05:26:48","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-new-private-home-sales-highest-in-8-months\/"},"modified":"2016-04-20T12:29:00","modified_gmt":"2016-04-20T05:29:00","slug":"singapores-new-private-home-sales-highest-in-8-months","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-new-private-home-sales-highest-in-8-months\/","title":{"rendered":"Singapore\u2019s new private home sales highest in 8 months"},"content":{"rendered":"


\nAnalysts say the period of March-May tends to see an increased level of activity
\nThe Wisteria in Yishun is currently 58 percent sold
\nProperty developers in Singapore sold 843 private housing units, excluding executive condominiums (ECs), in March 2016, according to new data released by the Urban Redevelopment Authority (URA).
\nThis represents a 178 percent jump from the 303 units sold in the previous month. Year-on-year, sales increased by 37.5 percent.
\nOrangeTee said this is the highest tally of monthly developer sales since July last year, when 1,655 units were moved.
\nBut analysts were not surprised by the surge in new home sales. DTZ said the period of March to May tends to see an increased level of activity.
\n\u201cNotwitstanding, consistent with what we see on the ground, there are more buyers returning to the market. Most of these buyers look for developments at choice locations at relatively lower quantums,\u201d noted the consultancy.
\nMore: SG\u2019s condo resale prices on the upward trend
\nOrangeTee explained that there has been an accumulation of pent-up demand from buyers who have adopted a wait-and-see attitude due to the property cooling measures.
\nWhile these measures have side-lined many buyers due to the increase in upfront costs and tighter financing conditions, buyers are still willing to commit when there is perceived value in the market, the firm said.
\n\u201cGood quality projects coupled with competitive pricing is the key to excite dormant demand lurking in the private residential sector.\u201d
\nMeanwhile, two of the best-performing new launches in March included\u00a0the 268-unit\u00a0Cairnhill Nine, located at Cairnhill Road, selling\u00a0177 units last month at a median price of SGD2,441 (USD1,819) per sqft, according to CapitaLand. Over in Yishun, NorthernOne\u2019s\u00a0The Wisteria\u00a0saw 125 out of its 216 units snapped up at a median price of SGD1,112 (USD829) per sqft.
\nLooking ahead, OrangeTee said three new projects will be launched in April and May, namely Sturdee Residences (305 units), Stars of Kovan (395 units) and Gem Residences (578 units).
\nThis article was originally published by PropertyGuru.com.sg on 15 April 2016.
\n
\nSource : property-report.com
\nRead more…Singapore\u2019s new private home sales highest in 8 months<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Analysts say the period of March-May tends to see an increased level of activity The...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-11004","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-2Ru","jetpack-related-posts":[{"id":118645,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-home-sales-hit-11-month-high-in-august-despite-hungry-ghost-festival\/","url_meta":{"origin":11004,"position":0},"title":"New home sales hit 11-month high in August despite Hungry Ghost Festival","date":"September 16, 2020","format":false,"excerpt":"\r New home sales in\u00a0August 2020 saw the fourth consecutive month-on-month increase. 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