New-home sales in April highest since 2009

In April, developers sold 2,487 new private homes, the highest since the 2,772 units achieved in July 2009, according to PropertyGuru. This is the third consecutive month in which developers’ sales of private new homes exceeded 2,000 units, demonstrating a healthy pool of genuine homebuyers and long-term investors, observes Colliers International’s director of research and advisory, Chia Siew Chuin.

While sales volume in the Outside Central Region, or suburbs, remained healthy, with 1,514 units sold (60.9% of total sales), the growth in sales in April came from the Rest of Central Region, or city fringes, and Core Central Region, the prime districts.

The three best-selling projects last month were UOL Group’s Katong Regency, where all 244 units were sold within a week at a median price of $1,709 psf; MCL Land’s Ripple Bay in Pasir Ris, where 174 of 293 units launched last month were sold at a median price of $876 psf; and Frasers Centrepoint’s Palm Isles on Flora Drive, where 153 units were sold at a median price of $871 psf. Last month also saw the launch of CapitaLand’s and Mitsubishi Estate’s Sky Habitat at Bishan, where 131 of 180 units launched were sold at a median price of $1,583 psf.

In the prime districts, sales were mainly driven by projects launched previously: Rochelle at Newton by Sim Lian, where 19 units were sold at a median price of $1,434 psf; Scotts Tower, where eight units were sold at a median price of $3,554 psf; and Suites@Newton, where five units were sold at a median price of $2,051 psf.

Three out of six units launched at China Sonangol’s TwentyOne Angullia Park were sold at a median price of $3,958 psf.

So far, two major projects have been launched this month. At the preview of the 530-unit Flo Residences on May 12 and 13, 200 units were sold at an average price of $850 psf. United Engineers’ 862-unit 8 Riversuites is located near Boon Keng MRT station in Bendemeer also sold well over 200 units when it was previewed over the weekend of May 5 and 6.

Source: TheEdge – 2012 May 22

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