Developers moved 381 private homes in January 2017. Sales went up 17.6% y-o-y from 324 in January 2016. The only new launch in January was 12 on Shan, a 78-unit development that released 30 units for sale.
Parc Riviera led the pack with 38 units sold at a median price of $1,270 psf. The Santorini trailed with 30 units sold at a median price of $1,066 psf, followed by The Trilinq 25 units sold at a median price of $1,339 psf.
“January new home sales was riding on the momentum witnessed at the end of 2016,” says Desmond Sim, Head, CBRE Research, Singapore and South East Asia. With the dearth of launches, buyers continued to invest in the large array of existing projects, adds Sim.
CBRE estimates new sales in February to be higher with the launch of The Clementi Canopy and possibly Grandeur Park Residences if it is launched soon.
Meanwhile, the best-selling executive condo was The Terrace with 41 units sold at $779 psf. This was followed by Sol Acres (40 units at a median price of $797 psf) and The Vales (17 units at a median price of $827 psf).
JLL's national director of research and consultancy, Ong Teck Hui expects higher new sales in 2017, estimated at 8,000 to 8,800 units, above the 7,952 private homes sold by developers in 2016.
Best-selling private projects in January 2017
Best-selling EC projects in January 2017