{"id":117830,"date":"2020-07-16T10:13:10","date_gmt":"2020-07-16T03:13:10","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-soar-104-9-in-june-2020\/"},"modified":"2020-07-16T11:02:52","modified_gmt":"2020-07-16T04:02:52","slug":"new-private-home-sales-soar-104-9-in-june-2020","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-soar-104-9-in-june-2020\/","title":{"rendered":"New private home sales soar 104.9% in June 2020"},"content":{"rendered":"


\nNew private home sales surged after the lifting of the circuit breaker measures. Photo: Treasure at Tampines was the best-selling project in June.\u00a0
\nSales 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 sales since 2013.
\nUrban Redevelopment Authority (URA) data showed that new homes sales soared 104.9% to 998 units in June from the 487 units sold in May (excluding executive condominiums (ECs)). This figure is higher than the 75.8% increase in May from April. On an annual basis, new home sales increased 21.6% from the 821 units shifted in June 2019.
\nIncluding ECs, developer sales increased 102.2% month-on-month and 25.4% year-on-year to 1,031 units.
\n\u201cWe believe this reflects pent-up demand from the two-month circuit breaker period,\u201d said Tricia Song, Head of Research for Singapore at Colliers International.
\nThe circuit breaker measures to curb the spread of COVID-19 was lifted on 19 June and showflat viewings had resumed.
\nSong noted that while there was no major new project launch, buyers snapped up more private homes from earlier launches, also partly attracted by discounts dangled and lower borrowing costs.
\nRecommended story:\u00a010 Condos To Watch For Fire Sales As They Approach ABSD Deadline in 2020\/2021
\nDesmond Sim, Head of Research for Southeast Asia at CBRE, also attributed the increase in sales to the low interest rate environment.
\nChristine Sun, Head of Research and Consultancy at OrangeTee and Tie, said the increase in sales volume last month was broad-based across all market segments.
\nExcluding ECs, the number of new homes sold within the Rest of Central Region (RCR) soared 127.5% month-on-month to 430 units in June, those in the Outside Central Region (OCR) increased 90.3% to 489 units, while those in the Core Central Region (CCR) jumped 92.7% to 79 units over the same period.
\nLast month\u2019s best-selling projects were Treasure at Tampines (104 units), Parc Clematis (90 units), The Florence Residences (89 units), Parc Esta (82 units) and Stirling Residences (74 units).
\nKopar at Newton continued to be the top-selling project within the CCR with 25 units sold in June. Other luxury projects such as Fourth Avenue Residences, Royalgreen, Van Holland, Leedon Green, The Avenir and Boulevard 88 also continued to shift units despite the pandemic.
\nSun revealed that the reopening of showflats resulted in a substantial increase in sales of pricier private homes. URA Realis data showed that the number of private homes, excluding ECs, transacting at $2 million and above increased to 129 units in June from May\u2019s 23 units.
\nIn terms of proportion to the total sales (excluding ECs), 13% of new homes were sold at $2 million and above in June, compared to 5% in May. Moreover, 32 private homes were shifted at $3 million and above, while two new homes were transacted above $10 million including a 257 sq m 5th floor unit at Boulevard 88 and a 504 sq m 12th floor unit at 15 Holland Hill.
\nSun observed that foreign buyers also returned to the market following the circuit breaker period. Based on URA Realis data, the number of non-landed homes acquired by foreign buyers substantially increased in June.
\nNon-permanent residents (NPR) acquired 49 non-landed private homes in June, a significant increase from the 14 units transacted in May. The figure is also higher than the 33 units moved in June 2019.
\nThe number of non-landed homes acquired by Singapore permanent residents (PR) also surged to 120 units in June from May\u2019s 56 units. It is also higher compared to the 86 units transacted in June last year.
\n\u201cMany foreigners have bought properties last month as the growing macro-economic uncertainties have driven more overseas investors to seek shelter for safe-haven assets here. Although showflats were reopened last month, we have observed more foreign buyers purchasing private homes remotely due to the border lockdowns or travel restrictions imposed in many countries. This is in stark contrast to the past where many foreigners typically buy a unit only after visiting a showflat,\u201d said Sun.
\nShe expects more foreigners to \u201cpick up private homes in the coming months as the interest rates are expected to remain low and ample liquidity is flowing into the asset markets due to the massive quantitative easing programs launched around the world\u201d.
\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 soar 104.9% in June 2020<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

New private home sales surged after the lifting of the circuit breaker measures. Photo: Treasure...<\/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-117830","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-uEu","jetpack-related-posts":[{"id":117166,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-homes-sales-spiked-75-5-in-may\/","url_meta":{"origin":117830,"position":0},"title":"New private homes sales spiked 75.5% in May","date":"June 16, 2020","format":false,"excerpt":"\r Including ECs, 509 units were sold in May, up 73.7% month-on-month but down 46.5% year-on-year. Photo: Treasure at Tampines. Despite 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\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":117830,"position":1},"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":117846,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-homes-sales-to-hit-up-to-7000-this-year\/","url_meta":{"origin":117830,"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":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":117830,"position":3},"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. 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Photo: Woodleigh Residences Despite expectations of slower sales during the Hungry Ghost Festival, new home sales in\u00a0August increased for the fourth consecutive month since the circuit breaker measures were implemented in April. Urban Redevelopment Authority (URA) data showed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2020\/09\/ura-private-home-sales-data-august-2020-orangetee.png?fit=680%2C280&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":120587,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-buyers-looking-for-bigger-homes-since-end-of-circuit-breaker\/","url_meta":{"origin":117830,"position":5},"title":"More buyers looking for bigger homes since end of circuit breaker","date":"June 29, 2021","format":false,"excerpt":"\r In 2020, the number of resold executive HDB units\u00a0increased by 12.8% year-on-year to 1,882 units and the number of resold five-room flats\u00a0climbed 10.3% year-on-year to 5,984. 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