{"id":117166,"date":"2020-06-16T10:36:30","date_gmt":"2020-06-16T03:36:30","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-homes-sales-spiked-75-5-in-may\/"},"modified":"2020-06-16T11:05:22","modified_gmt":"2020-06-16T04:05:22","slug":"new-private-homes-sales-spiked-75-5-in-may","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-homes-sales-spiked-75-5-in-may\/","title":{"rendered":"New private homes sales spiked 75.5% in May"},"content":{"rendered":"


\nIncluding ECs, 509 units were sold in May, up 73.7% month-on-month but down 46.5% year-on-year. Photo: Treasure at Tampines.
\nDespite the closure of showflats due to the government\u2019s circuit breaker measures, sales for new private homes rose 75.5% to 486 units \u2013 excluding executive condominiums (ECs) \u2013 in May from 277 units in April, showed Urban Redevelopment Authority (URA) data.
\nOn an annual basis, developers\u2019 sales, excluding ECs, fell 48.9% from the 952 units transacted in May 2019.
\nIncluding ECs, 509 units were sold in May, up 73.7% month-on-month but down 46.5% year-on-year.
\nNo new project was launched in May since the circuit breaker was in force during the whole month. However, \u201celectrifying deals\u201d still flowed from previously launched projects, such as Treasure at Tampines, Parc Clematis and The Florence Residences, said Desmond Sim, Head of Research for Southeast Asia at CBRE.
\nTreasure at Tampines emerged as the best-selling project in May with 56 units, followed by Parc Clematis and The Florence Residences, which moved 55 units and 54 units respectively.
\nRelated story:\u00a0Private Home Sales Up 75.5% in May 2020\u2014See The Top 5 Condos Sold Here
\nTricia Song, Head of Research for Singapore at Colliers International, attributed this to buyers having been familiar with such projects as they may have previously visited them before the circuit breaker measures, or the projects may have recorded sufficient sales to inspire confidence.
\nOrangeTee noted that the \u201cunexpected sizzling sales\u201d in May appeared to be mainly driven by locals and investors.
\nCiting URA realis data, OrangeTee revealed that the proportion of non-landed new homes acquired by Singaporeans rose to 84.8% in May from 84.1% in April. In absolute figures, the number of non-landed homes purchased by Singaporeans jumped 81.1% to 402 units in May from 222 units in April.
\n\u201cForeigner purchases had similarly strengthened last month as the number of non-landed new homes bought by permanent residents (PRs) and non-permanent residents (non-PRs) surged 71.4% from 42 units in April to 72 units in May,\u201d said Christine Sun, Head of Research & Consultancy at OrangeTee.
\nShe added that more investors entered the market in May as sales of lower-priced or smaller units \u2013 which tend to be popular among investors \u2013 increased during the period under review.
\n\u201cLast month, the number of smaller units (excluding EC) below 800 sq ft rose by a whopping 70.0% to 319 units in May from 188 units in April. On a similar note, the proportion of private home sales excluding EC below $1 million increased from 23.6% in April to 28.7% in May, which was the highest proportion recorded since August 2019 (29.6%).\u201d
\nSome investors may have also made the purchase for \u2018fear of losing a good deal\u2019 as they expect prices to recover given that the Covid-19 outbreak is abating in some countries while many major economies are gradually reopening, said OrangeTee.
\nLooking ahead, Sim expects new home sales for this year to drop between 4,000 and 5,000 units, excluding ECs.
\nSong, on the other hand, expects developer sales to decline 29% to 7,000 units this year from 2019\u2019s 9,912 units. She also expects developers to cut prices by 3% to 5%.
\n\u00a0
\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 homes sales spiked 75.5% in May<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Including ECs, 509 units were sold in May, up 73.7% month-on-month but down 46.5% year-on-year....<\/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-117166","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-utM","jetpack-related-posts":[{"id":117830,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-soar-104-9-in-june-2020\/","url_meta":{"origin":117166,"position":0},"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":[]},{"id":118256,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-up-8-2-in-july-second-consecutive-m-o-m-increase\/","url_meta":{"origin":117166,"position":1},"title":"Private home sales up 8.2% in July, second consecutive m-o-m increase","date":"August 17, 2020","format":false,"excerpt":"\r Treasure at Tampines was the best-selling project in July, with 112 units sold.\u00a0 New private home sales in Singapore continued to climb for the second month in a row after the government allowed the reopening of showflats. Excluding executive condominiums (ECs), new home sales rose 8.2% month-on-month to 1,080\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2020\/08\/private-home-sales-july-2020-1024x382.png?fit=1024%2C382&ssl=1&resize=350%2C200","width":350,"height":200},"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":117166,"position":2},"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":110797,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-remain-strong-in-august\/","url_meta":{"origin":117166,"position":3},"title":"Private home sales remain strong in August","date":"September 16, 2019","format":false,"excerpt":"\r Urban Redevelopment Authority\u2019s (URA) Realis data showed that developers sold 1,122 new homes in August, excluding executive condominiums (ECs). Including ECs, developers moved 1,167 units. Private home sales volume appeared to remain robust in August, despite it being a typically slow sales month. \u201cDemand in August seemed to have\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116465,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-drop-58-in-april\/","url_meta":{"origin":117166,"position":4},"title":"New private home sales drop 58% in April","date":"May 18, 2020","format":false,"excerpt":"\r Developers sold 277 new private homes in April, down 58% from the 660 units shifted in March. Photo: Kopar at Newton by CEL.\u00a0 With 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120413,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-jump-32-2-in-january\/","url_meta":{"origin":117166,"position":5},"title":"New private home sales jump 32.2% in January","date":"February 16, 2021","format":false,"excerpt":"\r New private home sales jump 32.2% in JanuaryNormanton Park\u00a0emerged as the best-selling project in January, shifting 625 units. It was followed by\u00a0Parc Central Residences EC\u00a0and\u00a0The Reef at King\u2019s Dock, which moved 417 and 221 units, respectively. 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