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4 best-selling condo projects in Sept

Posted on 18 Oct 2014 | Comments Off

Sales of new private homes picked up in September, with property developers selling 648 units last month, 50 percent more than the 432 units sold in the month before, according to URA data released on Wednesday.

New project launches in the month such as Highline Residences and Seventy Saint Patrick’s contributed to the improved sales.

Mohamed Ismail, CEO of real estate agency PropNex said: “Developers will remain focused on moving units by attractively pricing the new projects and September saw some of these projects that are centrally located drawing the attention and interest.

“We predict that home seekers will remain selective for the remainder of the year, with a project’s location and price points as the main drivers of demand,” he added.

Here’s a look at the top four best-selling projects in September – Highline Residences, Seventy Saint Patrick’s, Lakeville and Eight Riversuites.

1. Highline Residences (RCR)
Developer: Keppel Land
Tenure: 99-year leasehold
Nearest MRT station: Tiong Bahru
Median price: $1,848 psf
Sales update: 160 units launched out of an available 500 units. 142 sold last month.

2. Seventy Saint Patrick’s (OCR)
Developer: UOL Group
Tenure: Freehold
Nearest MRT station: Kembangan
Median price: $1,652 psf
Sales update: 140 units launched out of a total 186 units. 110 sold last month.

3. Lakeville (OCR)
Developer: MCL Land
Tenure: 99-year leasehold
Nearest MRT station: Lakeside
Median price: $1,274 psf
Sales update: 350 units launched out of a total 696 units. 42 sold last month.

4. Eight Riversuites (RCR)
Developer: UE Development
Tenure: 99-year leasehold
Nearest MRT station: Boon Keng
Median price: $1,388 psf
Sales update: All 862 units have been launched. 21 sold last month.

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Posted in New Launches, Property Market / Real Estate

Tagged Eight Riversuites, Highline Residences, Lakeville, new private homes, Seventy Saint Patrick

50% rise in new private home sales

Posted on 18 Oct 2014 | Comments Off

Developers sold 648 new private homes last month which translates to an increase of 50 percent month-on-month but 47 percent decline on the same month last year.

Including executive condominiums (ECs), the number of units sold last month was 707.

The month-on-month rise comes from data published by the Urban Redevelopment Authority (URA) this afternoon.

During August, Singapore developers sold 432 new private homes, and up to 490 including ECs, in a month that saw few new launches. In contrast, September last year saw a total of 1,237 units sold, that when including ECs reached 1,649 units.

The development with the highest number of sales in September was Highline Residences in Kim Tian Road with a median average sales price of $1,848 psf. The highest median priced sale happened at Mon Jervois with one unit being sold at $2,771 psf.

According to URA, prices as well as the number of units sold during the month are based on the Option to Purchase (OTP) issued by developers to buyers and reported to URA. Not all OTPs result in confirmed sales.

An OTP 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 OTP within its validity period if he decides to buy the property.