{"id":121470,"date":"2021-08-16T03:28:09","date_gmt":"2021-08-15T20:28:09","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-up-77-in-july-despite-tightened-measures\/"},"modified":"2021-08-16T12:02:45","modified_gmt":"2021-08-16T05:02:45","slug":"new-private-home-sales-up-77-in-july-despite-tightened-measures","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-up-77-in-july-despite-tightened-measures\/","title":{"rendered":"New private home sales up 77% in July despite tightened measures"},"content":{"rendered":"


\nNew private home sales up 77% in July despite tightened measuresBased on caveats lodged, new private home sales jumped 77.2% to 1,545 units from the 872 units shifted in June. Photo: Pasir Ris 8 by Allgreen.\u00a0
\nNew private home sales in Singapore rebounded in July, even as the Government tightened COVID-19 measures during the second half of the month, reported The Business Times (BT).
\nBased on URA caveats lodged, analysts estimate that new private home sales jumped 77.2% to 1,545 units from the 872 units shifted in June.
\nSo far, the figure is the second-highest monthly sale for this year, at just 5.4% behind that of January, said Huttons Asia CEO Mark Yip. However, he highlighted that there were two major launches in January, compared to one last month.
\nWith a median price of $1,624 per sq ft (psf), Pasir Ris 8 was the sole major launch in July. It was the best-selling project in July, accounting for 27% of last month\u2019s total new home sales.
\nYip noted that Pasir Ris 8\u2019s successful launch had a \u201cgalvanising effect on other integrated projects and projects in the vicinity\u201d.
\nERA\u2019s Head of Research and Consultancy Nicholas Mak said the project\u2019s price hikes later in the month caused buyers to turn to other developments to look for more affordable options.
\n\u201cAfter the price increase in Pasir Ris 8, the sales in Normanton Park, Midwood, Sengkang Grand Residences and Ki Residences increased significantly on a basis of units sold per day,\u201d said Mak as quoted by BT.
\nSengkang Grand Residences, for instance, sold 31 units from 1 July to 23 July and 58 units during the remaining eight days of July after prices at Pasir Ris 8 were increased on 24 July.
\n\u201cThis shows that some home buyers are price sensitive and would substitute a project at one location for another project at another location, especially if they are investors,\u201d said Mak.
\nHe believes that the increasing prices may also lead to a \u201cfear of missing out\u201d (FOMO) among home buyers.
\n\u201cSales picked up across many projects last month as buyers returned to the private residential market in droves. Some rushed to buy units for fear of being priced out of the market as prices seemed to have bottomed out, and Singapore\u2019s economy is poised for further recovery in the coming months,\u201d said OrangeTee & Tie\u2019s Senior Vice-president of Research and Analytics Christine Sun as quoted by BT.
\nNormanton Park emerged as the second\u2019s best-selling project for July, with 124 units sold at a median price of $1,824. It was followed by Midwood which transacted 91 units at a median price of $1,656.
\nOn an annual basis, new home sales rose 42.7% from the 1,083 units shifted in July last year.
\nIncluding executive condominiums (ECs), sales surged 76.7% to 1,700 units from the previous month and 48.5% from July 2020.
\n\u201cIn the first seven months of 2021, developers have sold an estimated 8,004 units. Despite the lunar seventh month in August, developers are likely to push ahead with their launch to ride on the positive momentum. Barring unforeseen circumstances, new sales could possibly hit a high of 12,000 units in 2021,\u201d said Yip as quoted by BT.
\nIn terms of price, homes within the $1 million to $1.5 million range led the month, accounting for 39% of total transactions, excluding ECs. About 28.9% of homes sold cost $1.5 million to $2 million, while 17.5% of transactions were within the $2 million to $3 million bracket.
\nThe Outside Central Region (OCR) continued to account for the bulk of new home sales, excluding ECs, last month.
\nIncluding Pasir Ris 8, the region made up 65.2% of new home sales in July, while the Rest of Central Region (RCR) and Core Central Region (CCR) accounted for 25.8% and 9%, respectively, showed OrangeTee & Tie data.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email:\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…New private home sales up 77% in July despite tightened measures<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

New private home sales up 77% in July despite tightened measuresBased on caveats lodged, new...<\/p>\n","protected":false},"author":1,"featured_media":121471,"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-121470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/08\/pasir-ris-8-artist-impression.jpeg?fit=820%2C405&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vBc","jetpack-related-posts":[{"id":121489,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-new-private-home-sales-surge-82-2-in-july\/","url_meta":{"origin":121470,"position":0},"title":"Singapore new private home sales surge 82.2% in July","date":"August 17, 2021","format":false,"excerpt":"\r Singapore new private home sales surge 82.2% in JulyAccording to data from the URA, new private home sales in July was the highest this year, with 1,744 units\u00a0sold. Photo: Watergardens at Canberra Despite the tightened safe management measures during the second half of July, developers in Singapore sold 1,589\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/08\/Artists-impression-of-The-Watergardens-at-Canberra-crop.jpg?fit=820%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":124571,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hike-in-hdb-resale-prices-to-be-slower-new-private-home-sales-remain-steady-in-january-despite-cooling-measures-and-more\/","url_meta":{"origin":121470,"position":1},"title":"Hike in HDB resale prices to be slower, New private home sales remain steady in January despite cooling measures and more","date":"February 14, 2022","format":false,"excerpt":"\r 8th February to 14th February 2022 HDB resale prices are expected to increase at a slower pace this year as a record number of flats reach their\u00a0Minimum Occupation Period (MOP). Singapore saw new private home sales held steady in January despite the latest cooling measures. 1) Hike in HDB\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/02\/singapore-hdb-landscape-1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":102323,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/weak-response-for-pasir-ris-central-white-site\/","url_meta":{"origin":121470,"position":2},"title":"Weak response for Pasir Ris Central white site","date":"December 17, 2018","format":false,"excerpt":"\r Location map of the land parcel at Pasir Ris Central. Source: HDB The tender for a white site at Pasir Ris Central closed last Friday (14 Dec), with three bids received. The bidders were Laguna Garden Limited and Far East Commercial Trustee Pte. Ltd.; Phoenix Residential Pte. Ltd. &\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121834,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-home-buyers-turn-to-suburban-private-housing-amid-work-from-home-trend\/","url_meta":{"origin":121470,"position":3},"title":"More home buyers turn to suburban private housing amid work from home trend","date":"September 6, 2021","format":false,"excerpt":"\r Work from home arrangements has seen demand for larger units go up and home buyers being more willing to buy properties in OCR neighbourhoods. The rise of the work from home trend due to the COVID-19 pandemic saw Singapore buyers opting for larger homes, allowing them to set up\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/09\/Residential-apartments-in-Singapore-v2.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":120506,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-new-private-home-sales-down-2-6-in-june\/","url_meta":{"origin":121470,"position":4},"title":"Singapore new private home sales down 2.6% in June","date":"July 16, 2021","format":false,"excerpt":"\r Singapore new private home sales down 2.6% in JuneNew private home sales dropped 2.6% month-on-month, from 895 to 872 units, and decreased 12.6% year-on-year. New private home sales, excluding executive condominiums (ECs), slipped by 2.6% to 872 units in June from 895 units in May. On an annual basis,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/condominium-singapore.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":96125,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/buyers-rushing-to-avoid-property-curbs-led-to-55-surge-in-july-home-sales\/","url_meta":{"origin":121470,"position":5},"title":"Buyers rushing to avoid property curbs led to 55% surge in July home sales","date":"August 16, 2018","format":false,"excerpt":"\r Riverfront Residences was one of the top performing projects in terms of sales last month. Propelled by buyers rushing to purchase private condos hours before the new property curbs took effect on 6 July, new private home sales in Singapore jumped 55 percent to 1,724 units in July, or\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\/121470"}],"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=121470"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/121470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/121471"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=121470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=121470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=121470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}