{"id":22935,"date":"2016-08-15T15:19:37","date_gmt":"2016-08-15T08:19:37","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-sales-more-than-doubles-in-july\/"},"modified":"2016-08-15T15:28:55","modified_gmt":"2016-08-15T08:28:55","slug":"developer-sales-more-than-doubles-in-july","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-sales-more-than-doubles-in-july\/","title":{"rendered":"Developer sales more than doubles in July"},"content":{"rendered":"


\nThe Lake Grande project in Jurong sold 464 units last month at a median price of $1,368 psf. (Photo: Christopher Chitty)
\nSales of new private homes, excluding executive condominiums (ECs), more than doubled to 1,091 units in July, up from 536 units sold in the month before, according to data published on Monday (15 August) by the Urban Redevelopment Authority (URA).
\nProperty analysts said the spike in transactions was due to the higher number of units launched, following a lull in June when buyers held off on purchases and developers delayed their launches to avoid the school holidays.
\nThere were 624 private condo units launched last month, compared to 234 in June.
\nThe bulk of home sales took place in the suburbs, with 825 units sold (76 percent). This was followed by the city fringe, which sold 213 units (19 percent), and the city centre with 53 units sold (five percent).
\nThe top-selling private condominium in the month was Lake Grande in Jurong, which sold 464 units at a median price of $1,368 psf.
\nMeanwhile, developers sold 830 EC units in July, up significantly from the 232 units sold in the previous month.
\nThe most popular EC project was Treasure Crest in Sengkang, which moved 398 units at a median price of $751 psf.
\nDespite the improved sales result, Mohamed Ismail, CEO of PropNex Realty, cautioned that there are still issues plaguing the housing market.
\n\u201cThe mounting supply of homes amid the on-going implementation of stringent measures and strict loan curbs continue to weigh on buying sentiments,\u201d he said.
\nHe added that many buyers are choosing to remain on the sidelines as they anticipate further price declines.
\n\u201cWith the odds stacked against developers, they will continue to act with caution \u2013 taking a slow and deliberate approach in launching their projects, as well as having a competitive pricing strategy to further entice buyers to commit.\u201d
\nIsmail expects sales for the rest of the year to hover at around 500 to 700 units per month. For the whole of 2016, PropNex forecasts the sales volume to reach between 7,000 and 8,000 units.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Developer sales more than doubles in July<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Lake Grande project in Jurong sold 464 units last month at a median price...<\/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-22935","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\/p75ss1-5XV","jetpack-related-posts":[{"id":107166,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-down-30-m-o-m-in-april\/","url_meta":{"origin":22935,"position":0},"title":"New private home sales down 30% m-o-m in April","date":"May 16, 2019","format":false,"excerpt":"\r Sales of new condominium units in Singapore fell on the back of fewer project launches last month. Data released by the Urban Redevelopment Authority on Wednesday (May 15) shows that 444 private homes were launched for sale in April, down 75 percent from 1,812 units in the previous month,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38278,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-home-sales-down-31-in-november\/","url_meta":{"origin":22935,"position":1},"title":"New home sales down 31% in November","date":"December 16, 2016","format":false,"excerpt":"\r Artist\u2019s impression of Parc Riviera in West Coast Vale. Property developers in Singapore sold 860 units in November 2016, down 31.4 percent from the 1,253 units in the previous month, reported Channel NewsAsia, citing data from the Urban Redevelopment Authority (URA). Including executive condominiums (ECs), developers sold 1,110 private\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38550,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-sales-down-31-in-november\/","url_meta":{"origin":22935,"position":2},"title":"Singapore home sales down 31% in November","date":"December 19, 2016","format":false,"excerpt":"\r Number of unit launches also fell Artist\u2019s impression of Parc Riviera in West Coast Vale Property developers in Singapore sold 860 units in November 2016, down 31.4 percent from the 1,253 units in the previous month, reported Channel NewsAsia, citing data from the Urban Redevelopment Authority (URA). Including executive\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":30331,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ecs-the-driving-force-in-new-home-sales\/","url_meta":{"origin":22935,"position":3},"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":34558,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-hit-15-month-high-in-october\/","url_meta":{"origin":22935,"position":4},"title":"Private home sales hit 15-month high in October","date":"November 16, 2016","format":false,"excerpt":"\r New private home sales soared to a 15-month high in October as two newly launched projects registered steady take-up rates. Developers sold 1,252 new condominiums last month, more than double the 509 sold in September, and the highest since the 1,655 units sold in July 2015, reported Channel NewsAsia.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34594,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-hit-15-month-high-in-october-2\/","url_meta":{"origin":22935,"position":5},"title":"Private home sales hit 15-month high in October","date":"November 16, 2016","format":false,"excerpt":"\r Value buys have proven enticing New private home sales soared to a 15-month high in October as two newly launched projects registered steady take-up rates. Developers sold 1,252 new condominiums last month, more than double the 509 sold in September, and the highest since the 1,655 units sold in\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\/22935"}],"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=22935"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/22935\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=22935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=22935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=22935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}