New private home sales down by 65 per cent

New private home sales plunged 65 per cent to 708 units last month as the Chinese New Year lull and the effects of a short month took its toll on sales.

Volumes were sharply down from the 2,016 new homes snapped up by buyers in January as developers also delayed new launches till after the festivities.

But factor in executive condominiums and the number of private homes sold rises to 917.

But sales are expected to pick up again in March as a string of new launches such as Sennett Residence in Potong Pasir, Urban Vista in Tanah Merah and D'nest in Pasir Ris hit the market.

Top selling projects include d'Leedon which sold 166 units at a median price of $1,540 per sq ft (psf) and Q Bay Residences which found buyers for 74 units at $1,041 psf.