{"id":123274,"date":"2021-11-17T01:15:58","date_gmt":"2021-11-16T18:15:58","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-private-home-sales-increase-9-in-october\/"},"modified":"2021-11-17T10:18:41","modified_gmt":"2021-11-17T03:18:41","slug":"singapore-private-home-sales-increase-9-in-october","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-private-home-sales-increase-9-in-october\/","title":{"rendered":"Singapore private home sales increase 9% in October"},"content":{"rendered":"


\nSingapore private home sales increase 9% in OctoberIn October 2021, new private home sales in Singapore (excluding ECs) increased to 909 units, up from 834 units in September.\u00a0
\nNew private home sales in Singapore, excluding executive condominiums (ECs), increased 9% month-on-month to 909 units in October, after registering two consecutive monthly declines.
\nOn an annual basis, new home sales jumped 39%, showed Urban Redevelopment Authority (URA) data.
\nYear-to-October, developer sales now stands at 10,918 units, exceeding the full 2020 volume of 9,982 units and up 36% from the 8,033 units shifted over the same period last year, said Tricia Song, Head of Research for Southeast Asia at CBRE.
\nIncluding ECs, developer sales declined 19.4% to 1,045 units in October from 1,296 units in September.
\nDevelopers launched 661 new private homes last month, three times higher than the 210 units launched in September and 39% more than the 423 units launched over the same period last year, reported The Straits Times (ST).
\nSong noted that last month\u2019s developer sales were relatively evenly distributed across the three market segments.
\nThe Outside Central Region (OCR) accounted for 38.2% of total sales, while the Core Central Region (CCR) and Rest of Central Region (RCR) both made up 30.9% of sales.
\nThe strong performance of Jervois Mansion \u2013 which emerged as last month\u2019s best-selling project \u2013 \u201ccontributed to a pick-up in CCR sales in October after more muted performances seen in the past few months\u201d.
\n\u201cAs the available stock of unsold units in the mass-market projects decreases, the market share of new CCR sales in the primary market should increase moving forward,\u201d said Song.
\nParc Greenwich was the second best-selling project in October, followed by Normanton Park, Dairy Farm Residences and The Jovell.
\nRelated article:\u00a0Top 10 Best-selling Projects in Q3 2021 and Why
\nMeanwhile, a penthouse at ultra-luxury development Les Maisons Nassim was sold for $75 million or $6,210 per sq ft (psf) in October, making it the most expensive new non-landed private home to be sold on a psf basis since 2011, when two units at The Marq were transacted for $20.54 million or $6,650 psf and $19.20 million or $6,215 psf, respectively.
\nLooking ahead, CBRE expects new home sales for November and December \u201cto remain buoyant on the back of anticipated new projects\u201d.
\nProjects expected to be launched in November include the 219-unit Commodore at Canberra Drive and the 696-unit CanningHill Piers, which is Liang Court redevelopment\u2019s residential component.
\n\u201cAs more countries continue to get added into Singapore\u2019s Vaccinated Travel Lane (VTL) programme, developer sales, especially in the CCR could be boosted due to the return of foreign demand,\u201d said Song.
\n\u201cFurthermore, as Singapore transitions into endemic living, COVID-19 curbs would no longer pose a headwind for developer sales. As such, the momentum in the residential market is expected to remain positive.\u201d
\nCBRE expects new developer sales for next year to hover between 11,000 and 12,000 units.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email:\u00a0cheryl@propertyguru.com.sg.\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Singapore private home sales increase 9% in October<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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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":30331,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ecs-the-driving-force-in-new-home-sales\/","url_meta":{"origin":123274,"position":1},"title":"ECs the driving force in new home sales","date":"October 17, 2016","format":false,"excerpt":"\r Treasure Crest EC was the chart-topping project in September, revealed URA data. (Photo: Sim Lian Group) Singapore developers sold 769 private housing units in September including executive condominiums (ECs), down 3.7 percent from the 799 units in the previous month, revealed data published on Monday (17 October) by the\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":123274,"position":2},"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":113120,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/higher-private-home-sales-recorded-in-november-despite-property-overhang\/","url_meta":{"origin":123274,"position":3},"title":"Higher private home sales recorded in November despite property overhang","date":"December 17, 2019","format":false,"excerpt":"\r Sengkang Grand Residences was the best-selling condo in November 2019. Sales of new private homes in November picked up significantly amid a property glut and despite the beginning of the year-end holiday period, reported The Straits Times. 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