Tag Archives: The Orchard Residences

Private home sales up 29% in April

Posted on 16 May 2011 | Comments Off on Private home sales up 29% in April

Sales of private residential properties increased in April.

1,788 private homes were sold last month, according to data released by the Urban Redevelopment Authority (URA) on Monday.

That’s a 29 percent month-on-month increase from the 1,386 units sold in March.

Including Executive Condominiums (ECs), total sales would have reached an even more impressive figure of 1,901.

Chalking up the best sales was Eight Courtyards at Yishun Avenue 7, which sold 340 units at a median price of S$789 per square foot.

The best selling EC was the Prive at Punggol Road, which sold 34 units at a median price of S$682 per square foot.

Meanwhile, the most expensive property sold in April was at The Orchard Residences at Orchard Boulevard, where a unit was sold at a median price of S$4,799 per square foot.

Source : CNA – 16 May 2011

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Posted in Property Market / Real Estate

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In dollar terms, ‘09 home sales pale before record of ‘07

Posted on 30 Oct 2009 | Comments Off on In dollar terms, ‘09 home sales pale before record of ‘07

Volumes may be as high, but units sold this year are smaller and less expensive

Numbers tell only half the story. While developers are heading towards the record number of private homes sold in 2007, CB Richard Ellis says that the total transaction value of primary market sales in 2009 so far – at about $11.2 billion – is only about half the $23 billion worth of new homes sold in the peak year of 2007.

The smaller value of total private homes sold by developers this year reflects the fact that mass-market homes have hogged the limelight this year, unlike 2007, when the spotlight was on the luxury market.

Median prices per unit transacted, both in absolute dollar as well as per square foot terms, have also been lower this year compared with 2007. With the focus on small-format units to move sales, the median size of units sold so far this year is also smaller than in 2007.

CBRE based its analysis on caveats data captured up to Oct 27 in Urban Redevelopment Authority’s Realis system.

This year, the strongest quarterly showing was in Q3, when developers sold about $5.8 billion worth of private homes, up from $1.36 billion in Q1 and $4.05 billion in Q2.

This pick-up has much to do with the stages of recovery in home buying. Continue reading →

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Posted in Luxury Property, Property Price, Sentosa Property

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