{"id":40878,"date":"2017-01-17T10:58:02","date_gmt":"2017-01-17T03:58:02","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-hits-3-year-high\/"},"modified":"2017-01-17T11:32:35","modified_gmt":"2017-01-17T04:32:35","slug":"new-private-home-sales-hits-3-year-high","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-hits-3-year-high\/","title":{"rendered":"New private home sales hits 3-year high"},"content":{"rendered":"


\nSingapore developers sold a higher number of units last year due to the more affordable prices at new launches. \u00a0
\nSales of new private homes, including executive condominiums (ECs), climbed to a high of 12,408 units compared to the 9,026 and 10,199 units transacted in 2014 and 2015 respectively, with ECs accounting for 32.6 percent of the overall figure, according to PropNex Realty citing data from the Urban Redevelopment Authority (URA).
\nPropNex CEO Mohamed Ismail revealed that one factor behind the high transaction volume last year was the better affordability of new projects. In fact, sales in the Core Central Region (CCR) spiked by around 67.2 percent, after developers slashed prices at some projects by 20 to 25 percent from their peak to avoid paying extension fees.
\nIn agreement, real estate consultancy JLL said a more realistic pricing for ECs, with median prices falling by around five percent between Q1 2015 and Q4 2016, contributed to a pick-up in transaction volume. In fact, developers moved 4,018 EC units last year, up 57.6 percent from the 2,550 units transacted in 2015.
\nDesmond Sim, CBRE\u2019s Research Head for Singapore and Southeast Asia, added: \u201cPalatable quantums for both first-time owners and investors have been the key driver for healthy home sales over the past 24 months.\u201d
\nExcluding ECs, private home sales rose by 9.4 percent to 8,136 units for the whole of 2016 versus the 7,440 units seen in the year before. However, the number of units sold in December slumped by 57.3 percent to 367 units versus November\u2019s 860 units. While transactions during the Christmas month are traditionally slow due to the year-end festivities, it was 4.4 percent lower than December 2015.
\n\u201cThe top-selling private residential projects in December were The Santorini (26 units at a median price of $1,047 psf), Queens Peak (25 units at a median price of $1,652 psf), Parc Riviera (22 units at a median price of $1,240 psf), Riverbank @ Fernvale (17 units at a median price of $964 psf) and The Alps Residences (16 units at a median price of $1,020 psf),\u201d noted JLL.
\nMeanwhile, the best-selling EC project last month was Sol Acres, with 66 units taken up at a median price of $789 psf. Other EC projects that sold fairly well include The Terrace (33 units at a median price of $790 psf), The Vales (17 units at a median price of $805 psf), Westwood Residences (17 units at a median price of $786 psf) and The Visionaire (14 units at a median price of $814 psf).
\nLooking ahead, Ismail predicts that developer sales for 2017 are likely to remain similar to last year, with approximately 12,000 units (including ECs) to be sold.
\nHowever, Sim reckons it will be slightly lower, given the weak economic outlook coupled with rising interest rates.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…New private home sales hits 3-year high<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Singapore developers sold a higher number of units last year due to the more affordable...<\/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-40878","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-aDk","jetpack-related-posts":[{"id":117448,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propnex-positive-of-private-home-markets-long-term-outlook\/","url_meta":{"origin":40878,"position":0},"title":"PropNex positive of private home market\u2019s long-term outlook","date":"June 30, 2020","format":false,"excerpt":"\r The real estate firm noted that the month-on-month rebound in new home sales in May and the return of homebuyers to acquire units during Phase 2 of the circuit breaker is \u201ca potential sign of underlying demand, particularly for strategically-priced units\u201d. Real estate firm PropNex expects homebuyers \u2013 especially\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":79856,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-up-37-from-a-year-ago\/","url_meta":{"origin":40878,"position":1},"title":"New private home sales up 37% from a year ago","date":"February 14, 2018","format":false,"excerpt":"\r Symphony Suites sold 65 units in the month of January, making it the most popular project.\u00a0 Property developers sold 522 new private homes excluding executive condominiums (ECs) in January 2018, up 21 percent from 431 units in the month before, according to data published by the Urban Redevelopment Authority\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54823,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-sold-1555-private-homes-in-april\/","url_meta":{"origin":40878,"position":2},"title":"Developers sold 1,555 private homes in April","date":"May 15, 2017","format":false,"excerpt":"\r A total of 419 units were sold at Seaside Residences, making it the top-selling project last month.\u00a0(Photo: Frasers Centrepoint Singapore) Property developers sold 1,555 new private homes in April 2017, down 12.6 percent from 1,780 units a month earlier, according to data from the Urban Redevelopment Authority. Seaside Residences\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20894,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-best-selling-projects-in-june-2016\/","url_meta":{"origin":40878,"position":3},"title":"5 best-selling projects in June 2016","date":"July 15, 2016","format":false,"excerpt":"\r Artist\u2019s impression of Kingsford Waterbay in Upper Serangoon.\u00a0 Property developers sold 536 private residential units, excluding executive condominiums (ECs) last month, down 50 percent from the 1,065 units sold in May, revealed latest data from the Urban Redevelopment Authority (URA). Including ECs, there were 768 units sold. There were\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":66694,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/housing-market-on-road-to-recovery-say-experts\/","url_meta":{"origin":40878,"position":4},"title":"Housing market on road to recovery, say experts","date":"September 18, 2017","format":false,"excerpt":"\r Developer sales for the first eight months of this year has surpassed last year\u2019s total sales.\u00a0 Singapore\u2019s residential market appears to be rebounding, with private home sales reaching about 8,391 units for the first eight months of this year, surpassing the 7,972 units sold for the whole of 2016,\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":40878,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/40878"}],"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=40878"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/40878\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=40878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=40878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=40878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}