MASSIVE RISE IN AUGUST PRIVATE HOME SALES
Sep 16, 2013
Sales of new private homes for the month of August shot up to 742 units, a 54 percent increase compared to the previous month, according to data released by the Urban Redevelopment Authority (URA).
Year-on-year, this was still 52 percent lower than in August 2012.
Including executive condominiums (ECs), transaction volumes last month reached 1,468 units, an almost 150 percent rise from the 593 units sold previously.
Developers were also busy launching 1,819 homes compared to just 557 in July, a hike of more than 200 percent.
Notably, 892 ECs were launched in August of which 726 units were sold, a take-up rate of 81 percent.
In the first eight months of 2013, 13,887 new homes were sold, 24 percent down from the 18,295 units transacted during the same period last year.
As usual, the suburban areas reported the most sales with 1,271 transactions, followed by the city-fringe with 109 units and 88 units in the city centre.
Meanwhile, three new launches saw healthy sales in August.
Ecopolitan, a 512-unit EC project sold 335 units at a median price of S$793 psf. Another EC Lush Acres moved 311 units at S$790 psf and the 380-unit project is now more than 80 percent sold. The Tembusu condo found buyers for 218 units at S$1,547 psf.
Info courtesy - PropertyGuru.com.sg
