Developers sell 860 private homes in November, down 31.4% from October

Parc Riviera in West Coast Vale has sold 128 units, out of 200 units launched.
Parc Riviera in West Coast Vale has sold 128 units, out of 200 units launched.PHOTO: EL DEVELOPMENT

SINGAPORE - Demand for new private homes in Singapore fell in November, after hitting a 15-month high in October.

Developers sold 860 units last month, a fall of 31.4 per cent compared with October, according to data released by the Urban Redevelopment Authority on Thursday (Dec 15).

The drop contrasted sharply with October's 15-month-high figure of 1,253 private homes sold, and was below the expectations of market watchers.

When compared against the same period last year, November's sales were up by 13.3 per cent from the 759 units sold.

During the month, 1,363 units - excluding executive condominiums (ECs)- were put on the market, less than October's 1,467 units.

The city fringe made up the bulk of sales in November, with 418 units sold there. There were 404 units sold in the suburbs and 38 sold in the core central region.

URA figures also showed that 250 new EC units were sold in November, lower than the 288 new ECs transacted in October. This took the total sales of new homes to 1,110 for the month.

Two new projects were launched in November. Queens Peak in Queenstown has sold 271 units out of 736 units launched, while Parc Riviera in West Coast Vale has sold 128 units, out of 200 units launched.