{"id":8140,"date":"2016-03-16T11:46:09","date_gmt":"2016-03-16T04:46:09","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-sales-down-almost-23-from-year-ago\/"},"modified":"2016-03-16T21:08:24","modified_gmt":"2016-03-16T14:08:24","slug":"developer-sales-down-almost-23-from-year-ago","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-sales-down-almost-23-from-year-ago\/","title":{"rendered":"Developer sales down almost 23% from year ago"},"content":{"rendered":"


\nThe best-selling project in February was The Panorama in Ang Mo Kio.
\nNew private home sales in Singapore fell by 22.8 percent to 301 units in February 2016, from 390 units in the same period last year, according to data released by the Urban Redevelopment Authority (URA) on Tuesday, 15 March.
\nOn a monthly basis, the sales volume fell by 6.8 percent from the 323 units sold in January 2016, even though new launches surged 31.4 percent to 209 units from 159 units previously.
\nAccording to JLL, the \u201cslower developer sales were expected due to the Lunar New Year lull and the continuation of the volatility in the stock market from the previous month\u201d.
\nBy location, sales in the Core Central Region (CCR) fell to 25 units in February, just shy of the 26 units sold in the previous month, and the 30 units sold a year ago.
\nIn the Rest of Central Region (RCR), transaction levels edged up to 82 units from 81 units in January 2016. But compared to the 185 units sold a year ago, this area witnessed the largest year-on-year decline of 56 percent.
\nMeanwhile, developers sold 194 units in the Outside Central Region (OCR). While this translates to a 10 percent drop from the 216 units moved in the month before, it is an 11 percent improvement from the 175 units sold in February 2015.
\nAccording to PropNex Realty, properties in the OCR accounted for 64 percent of total sales by developers, while those in the CCR and RCR made up nine percent and 27 percent respectively.
\nThe best-selling private residential projects last month were The Panorama, where 18 units were sold at a median price of $1,211 psf, followed by Kingsford Waterbay and Principal Garden, which moved 18 and 16 units at median prices of $1,127 psf and $1,612 psf, respectively.
\nLooking ahead, new private home sales could fall by around 10 to 15 percent year-on-year to between 1,000 and 1,200 units in Q1 2016, the lowest level seen for the past three years, said Mohamed Ismail, CEO of PropNex.
\nNevertheless, transaction volume could rebound in March due to the fairly good performance of two newly launched developments, Cairnhill Nine and The Wisteria.
\nFor the whole of 2016, private home sales are expected to remain weak at around 8,000 units, as long as the property cooling measures remain.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Developer sales down almost 23% from year ago<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The best-selling project in February was The Panorama in Ang Mo Kio. New private home...<\/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-8140","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\/p75ss1-27i","jetpack-related-posts":[{"id":82775,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-sales-down-28-in-feb\/","url_meta":{"origin":8140,"position":0},"title":"Developer sales down 28% in Feb","date":"March 15, 2018","format":false,"excerpt":"\r Located near Queenstown MRT station, Queens Peak was the top-selling private condo last month. Sales of new private homes, excluding executive condominiums (ECs), dropped by 28 percent in February 2018 to 377 units from 524 in the previous month, according to latest data from the Urban Redevelopment Authority (URA)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26165,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-plunge-56-as-ghost-month-deters-buyers\/","url_meta":{"origin":8140,"position":1},"title":"Private home sales plunge 56% as Ghost Month deters buyers","date":"September 15, 2016","format":false,"excerpt":"\r Crowds at the Treasure Crest showflat during the project\u2019s launch. (Photo: Sim Lian Group) Sales of new private homes, excluding executive condominiums (ECs), fell 56 percent to 473 units in August from the 1,091 units sold in the previous month, according to the Urban Redevelopment Authority\u2019s (URA) data. Analysts\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22935,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-sales-more-than-doubles-in-july\/","url_meta":{"origin":8140,"position":2},"title":"Developer sales more than doubles in July","date":"August 15, 2016","format":false,"excerpt":"\r The Lake Grande project in Jurong sold 464 units last month at a median price of $1,368 psf. (Photo: Christopher Chitty) Sales 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71879,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-sales-up-15-in-october-despite-no-major-launches\/","url_meta":{"origin":8140,"position":3},"title":"Developer sales up 15% in October despite no major launches","date":"November 15, 2017","format":false,"excerpt":"\r Sophia Hills in Mount Sophia was the top-selling private residential project last month. Sales of new private homes excluding executive condominiums (ECs) rose 15.4 percent to 758 units in October from 657 in the previous month, according to data from the Urban Redevelopment Authority on Wednesday (15 November). However,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114323,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/parc-canberra-sold-316-units-over-launch-weekend\/","url_meta":{"origin":8140,"position":4},"title":"Parc Canberra sold 316 units over launch weekend","date":"February 17, 2020","format":false,"excerpt":"\r The Hoi Hup Sunway project sold 64% of its total available units.\u00a0 Executive condominium Parc Canberra received robust interest during its sales launch over the weekend, with 64% or 316 out of its 496 total units sold. In a statement, Hoi Hup Sunway Canberra revealed that it has launched\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":88247,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-sales-surge-68-to-1325-units-in-april\/","url_meta":{"origin":8140,"position":5},"title":"Developer sales surge 68% to 1,325 units in April","date":"May 15, 2018","format":false,"excerpt":"\r Artist\u2019s impression of Rivercove Residences EC in Sengkang. Sales of new private homes, including executive condominiums (ECs), rose 68.1 percent in April to 1,325 units from 788 in the previous month, according to latest figures from the Urban Redevelopment Authority. Excluding ECs, developers sold 729 private units last month,\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\/8140"}],"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=8140"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/8140\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=8140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=8140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=8140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}