{"id":116465,"date":"2020-05-18T10:17:01","date_gmt":"2020-05-18T03:17:01","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-drop-58-in-april\/"},"modified":"2020-05-18T11:02:50","modified_gmt":"2020-05-18T04:02:50","slug":"new-private-home-sales-drop-58-in-april","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-drop-58-in-april\/","title":{"rendered":"New private home sales drop 58% in April"},"content":{"rendered":"


\nDevelopers sold 277 new private homes in April, down 58% from the 660 units shifted in March. Photo: Kopar at Newton by CEL.\u00a0
\nWith the implementation of circuit breaker measures from 7 April leading to the discontinuation of house viewings and closure of showflats, developers sold 277 new private homes in April, down 58% from the 660 units shifted in March.
\nOn an annual basis, developer sales fell 62.4% from the 737 units moved in April 2019, showed Urban Redevelopment Authority (URA) data.
\nIncluding executive condominiums (ECs), developers sold 293 units, down 67.6% month-on-month and 60.7% year-on-year.
\nDemand largely came from the Core Central Region (CCR), with Kopar at Newton emerging as the best-selling private residential project in April with 83 units sold at a median price of $2,241 per sq ft (psf).
\nIt is followed by Treasure at Tampines and Riverfront Residences, which moved 28 and 17 units, respectively.
\nRead: Property Price Growth: Which Districts Had the Highest Price Psf Growth in Q1 2020?
\nApril saw two new launches, one of which is a landed development with only five units \u2013 Burghley Drive; the other is 15 Holland Hill. Both projects sold one unit.
\nAnalysts noted that the circuit breaker did not deter buyers as over one-third of April\u2019s developer sales were registered on or after 7 April, indicating resilient demand.
\n\u201cSome transactions continued to happen even after the circuit breaker kicked in, as buyers could have seen the showflats before the circuit breaker and made the decision after,\u201d said Tricia Song, Head of Research for Singapore at Colliers International.
\nIn fact, several luxury projects continued to move units even after the circuit breaker measures were rolled out, including Boulevard 88, Van Holland, Midtown Bay, Neu at Novena and Kopar at Newton, showed URA Realis data.
\nTwo super-luxury condominium units at Boulevard 88 were transacted for more than $10 million each, while luxury homes at Van Holland were shifted for $3.2 million and 5.1 million.
\nA 477 sq m super-luxury condominium at 15 Holland Hill was the highest-priced private home transacted in April at $13.8 million.
\n\u201cGiven the movement restrictions and uncertain economic outlook, it is quite remarkable that some super luxury and luxury new homes were sold during the circuit breaker period,\u201d said Christine Sun, Head of Research and Consultancy at OrangeTee.
\n\u201cThis may indicate that despite the pandemic, many wealthy and ultra-rich continue to view Singapore as an attractive investment destination and a safe haven to park their funds.\u201d
\nSong expects May\u2019s sales \u201cto be lower than April, due to a full month of the circuit breaker measures\u201d.
\nNonetheless, she does not expect the rate of decline to be as steep as in April, noting that 27 new private home sales caveats had been lodged during the first three days of May.
\nFor the whole of 2020, Desmond Sim, Head of Research for Southeast Asia at CBRE, expects new home sales, excluding ECs, to drop between 4,000 and 5,000 units.
\n\u201cOverall, disruptions from the extended \u201ccircuit breaker\u201d, where sales galleries are mandated to close, the ban on foreign visitors into Singapore and the slowdown in project launches, are expected to have a negative impact on sales volume moving forward,\u201d he said.
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…New private home sales drop 58% in April<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Developers sold 277 new private homes in April, down 58% from the 660 units shifted...<\/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-116465","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-uit","jetpack-related-posts":[{"id":115414,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kopar-at-newton-sells-77-units-ahead-of-closure-order-for-showflats\/","url_meta":{"origin":116465,"position":0},"title":"Kopar at Newton sells 77 units ahead of closure order for showflats","date":"April 6, 2020","format":false,"excerpt":"\r Kopar At Newton sold 77 units ahead of the \u201ccircuit breaker\u201d measures on April 7. Photo: CEL Development.\u00a0 CEL Development has announced that it sold 77 units at Kopar at Newton condo during its launch over the weekend, reported The Business Times. Before its launch, the 378-unit, 99-year leasehold\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115658,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-fall-32-4-in-march-amid-covid-19\/","url_meta":{"origin":116465,"position":1},"title":"Private home sales fall 32.4% in March amid Covid-19","date":"April 16, 2020","format":false,"excerpt":"\r Transactions sharply tapered off as the effects of the Covid-19 began to hurt sentiment\u00a0reverberate through the economy. Developers in Singapore sold 660 new private homes in March, down 32.4% from the 976 units moved in February. On an annual basis, developer sales dropped 37.4% from the 1,054 units shifted\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115256,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kopar-at-newton-first-to-open-show-gallery-following-uras-viewing-by-appointment-advisory\/","url_meta":{"origin":116465,"position":2},"title":"Kopar at Newton first to open show gallery following URA\u2019s viewing by appointment advisory","date":"March 30, 2020","format":false,"excerpt":"\r Kopar At Newton, Chip Eng Seng\u2019s condominium project off Newton Circus, is the first project to open its sales gallery following the advisory released by Urban Redevelopment Authority\u2019s Controller of Housing (COH) on showflat viewings by appointments. \u00a0 This makes the 378-unit development the test case on how developers\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114946,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-in-february-soar-114-3-year-on-year-despite-virus-outbreak\/","url_meta":{"origin":116465,"position":3},"title":"New private home sales in february soar 114.3% year-on-year despite virus outbreak","date":"March 17, 2020","format":false,"excerpt":"\r The M, a new launch in February, accounted for the bulk of new sales volume at 39%, or 380 units.\u00a0 Despite the COVID-19 outbreak and the Lunar New Year lull, new private home sales in Singapore soared 114.3% to 975 units in February from 455 units over the same\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117846,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-homes-sales-to-hit-up-to-7000-this-year\/","url_meta":{"origin":116465,"position":4},"title":"New private homes sales to hit up to 7,000 this year","date":"July 17, 2020","format":false,"excerpt":"\r Despite the circuit breaker restrictions, sale activities still continued to happen in Q2 2020.\u00a0 While the enforcement of the circuit breaker measures disrupted real estate activities in Q2 2020, Knight Frank believes the progressive easing of the restrictions and resumption of economic activities will contribute to a pickup in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117830,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-soar-104-9-in-june-2020\/","url_meta":{"origin":116465,"position":5},"title":"New private home sales soar 104.9% in June 2020","date":"July 16, 2020","format":false,"excerpt":"\r New private home sales surged after the lifting of the circuit breaker measures. Photo: Treasure at Tampines was the best-selling project in June.\u00a0 Sales of new private homes in Singapore more than doubled in June from May, hitting the highest monthly sales since November 2019 and the highest June\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/116465"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=116465"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/116465\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=116465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=116465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=116465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}