Feb 17, 2014
New private home
sales increased 54 percent during January to reach 565 units, according to
public data published today by the Urban Redevelopment Authority (URA).
Including executive
condominiums (ECs), 610 units were sold last month compared to the 333 homes
taken up in December 2013 which was a five-year low for private home sales in
Singapore.
Approximately half of January's sales came from a single project - The Hillford (pictured) in Jalan Jurong Kechil.
Meanwhile, 549
private housing units were launched in January, of which none were ECs. This is
up from the 118 units released previously.
Despite the rise in
transactions, last month's total is still a 73 percent decline year-on-year
compared to the 2,284 units sold in January 2013.
The top three
best-selling projects in the month are The Hillford in the Rest of Central
Region (RCR) which sold 281 units at a median price of $1,105 psf, followed by
The Panorama in the Outside Central Region (OCR) which moved 58 apartments at
$1,343 psf, and La Fiesta in the OCR recording sales of 16 units at $1,187 psf.
The most expensive
unit sold in January based on psf price came from Skyline @ Orchard Boulevard
which sold one unit at $3,362 psf. This was followed by The Scotts Tower with
one unit sold at $2,870 psf and a unit at Skysuites @ Anson at $2,775 psf.
According to URA,
prices, as well as the number of units sold during the month, are based on the
Option-to-Purchase issued by developers to buyers.
An
Option-to-Purchase is a right or option given by the vendor to an intending
purchaser to buy the property at a specified price within a specified period of
time - the validity period of the option. The intending purchaser must pay a
booking fee of between 5 – 10 percent of the agreed price for this right or
option. The purchaser has to exercise the Option-to-Purchase within its
validity period if he decides to buy the property.
Info
courtesy - PropertyGuru
