{"id":121489,"date":"2021-08-17T02:48:24","date_gmt":"2021-08-16T19:48:24","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-new-private-home-sales-surge-82-2-in-july\/"},"modified":"2021-08-17T11:07:52","modified_gmt":"2021-08-17T04:07:52","slug":"singapore-new-private-home-sales-surge-82-2-in-july","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-new-private-home-sales-surge-82-2-in-july\/","title":{"rendered":"Singapore new private home sales surge 82.2% in July"},"content":{"rendered":"


\nSingapore 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
\nDespite the tightened safe management measures during the second half of July, developers in Singapore sold 1,589 new private homes, excluding executive condominiums (ECs), last month, up 82.2% from 872 units in June, showed Urban Redevelopment Authority (URA) data.
\nThis is the highest sale since January this year, when 1,633 units were sold.
\nOn an annual basis, new home sales jumped 46.7% from the 1,083 units shifted in July last year.
\nIncluding ECs, developers sold 1,744 units in July, up 81.2% from the previous month and 52.3% over the same period last year.
\n\u201cThe tightened measures did not seem to dampen market sentiment significantly,\u201d said Christine Sun, Senior Vice President of Research and Analytics at OrangeTee and Tie.
\nShe noted that the safe management measures\u2019 impact was more modest compared to the previous rounds of curbs.
\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,\u201d said Sun.
\n\u201cOn the sellers\u2019 end, developers were equally keen to launch units and close more deals ahead of the 7th lunar month which has started from 08 August 2021.\u201d
\nShe revealed that the number of units that were launched for sales, excluding ECs, increased 27% month-on-month to 1,104 units in July.
\nPasir Ris 8 emerged as the best-selling project as it sold 418 units at a median price of $1,624 per sq ft (psf).
\nHuttons Asia noted that there were more purchases by Singaporeans last month at 86.3%, an increase from 81.8% in June.
\n\u201cThis is probably due to the launch of Pasir Ris 8 which is located in the Outside Central Region (OCR) where the demand is predominantly HDB upgraders,\u201d it said.
\nIn fact, seven of the top 10 best-selling projects last month are situated within the OCR.
\nWith this, the OCR made up 63.7% of July\u2019s total sales, compared to 36.8% in the previous month.
\nThe Rest of the Central Region (RCR) accounted for 27.6% of total sales, while the Core Central Region (CCR) made up 8.7%.
\nShirley Wong, Senior Associate Director for Research at Colliers International, observed an increasing activity for projects with the median price of $1,500 to $1,999 psf, comprising 71.7% of total sales in July, compared to 46.1% in the previous month.
\nDespite the seventh lunar month in August, Huttons expects developers \u201cto push ahead with their launch to ride on the positive momentum\u201d.
\nAmong the projects expected to open for preview in August include Klimt Cairnhill and The Watergardens at Canberra.
\n\u201cAugust is likely to be another month where developer\u2019s sales cross the 1000-unit mark. This will whittle down the unsold stock in the market to even lower levels setting the stage for sustained price growth in the months ahead,\u201d added Huttons
\n\u00a0
\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…Singapore new private home sales surge 82.2% in July<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Singapore new private home sales surge 82.2% in JulyAccording to data from the URA, new...<\/p>\n","protected":false},"author":1,"featured_media":121490,"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-121489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"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","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vBv","jetpack-related-posts":[{"id":121510,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ocr-sells-record-397-new-homes-in-july-141-units-sold-above-2mil\/","url_meta":{"origin":121489,"position":0},"title":"OCR sells record 397 new homes in July, 141 units sold above $2mil","date":"August 18, 2021","format":false,"excerpt":"\r OCR sells record 397 new homes in July, 141 units sold above $2milSlightly more than a third (35.5%) of the OCR private home\u00a0shifted in July 2021 were sold for at least $2 million. 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