New private home sales in September down 31.1% from August

Private homes in the Cairnhill area.
Private homes in the Cairnhill area. PHOTO: ST FILE

SINGAPORE - Sales of new private homes were moribund again last month as no new condominiums were launched.

Developers sold just 341 private homes in the month, the lowest since 230 sales were recorded in December last year.

It was 31.1 per cent less than in August, a month where no new condos were launched as well.

However, August sales were marginally better due to some spillover from the popular High Park Residences, which was launched in July.

September was a quiet month partly due to the Hungry Ghost Festival and the general elections. The haze also kept away foreigners and their home purchases.

Compared with a year ago, last month's sales were 47.4 per cent less. But several condos had been launched then- including Highline Residences in Kim Tian Road, Seventy St Patrick's, and Forte Suites in Mergui Road.

Take up last month dwindled across all regions. In the core central region, 20 homes were sold; while 68 were sold in the city fringe and another 253 sold in the suburbs.

The sole new project launched in the month was the executive condominium (EC) Signature At Yishun. It sold 93 of its 525 units at a median price of $768 per sq ft (psf).

Among condos, top selling projects were High Park Residences in Fernvale Road, which sold 46 units at a median price of $941 psf; Botanique at Bartley in Upper Paya Lebar Road, which sold 38 units at a median price of $1,293 psf; and Higline Residences, which sold 21 units at a median price of $1,857 psf.

Including ECs, 628 new private homes were sold last month, 35.9 per cent lower than in August.