August private new home sales dip 4.8% m-o-m to 1,122 units

SINGAPORE (EDGEPROP) - Private new home sales, excluding executive condos (ECs), fell by 4.8% m-o-m to 1,122 units in August, according to developers’ monthly sales data by URA. Including ECs, developers sold 1,167 units in August, reflecting a 25% fall m-o-m. The dip in transactions are “within expectations”, says OrangeTee & Tie, as there were no EC projects launched in August.
In comparison, the 820-unit Piermont Grand EC was launched in July, and sold 44 units in August. To date, 409 out of the 820 units at the EC has been sold.
In August, developers launched 979 private residential units, 7.5% more than the 911 units placed on the market in July. Of those, 45% of the newly launched units, or 465 units, came from Parc Clematis, the only new development that was launched in the month.
The top-selling private residential projects in August is Parc Clematis, which sold 316 units at a median price of $1,615 psf. This is followed by the Florence Residences, which saw 122 units sold at a median price of $1,438 psf. Treasure at Tampines transacted 93 units at a median price of $1,343 psf, while Parc Botannia sold 61 units at a median price of $1,328 psf. Parc Esta moved 47 units at a median price of $1,691 psf.
In particular, Florence Residences clocked its best monthly sales since its launch in March this year, with 31% of its units sold to date. Colliers attributes this to the possibility that buyers have begun to warm up to the competitive prices in the housing market. The median price of $1,438 psf fetched at Florence Residences looks “relatively attractive” compared to Parc Clematis’ median price of $1,615 psf, remarks Tricia Song, head of research for Singapore at Colliers. Both projects are in the Outside Central Region (OCR).
After moving 93 units in August, Treasure at Tampines, the largest private condo project in Singapore, is 30% sold to date. The private new home sales of 1,122 units in August reflect an 81.8% y-o-y jump from 617 units sold in the preceding year. “Typically, for the month of...