Singapore new home sales pick up in January as developers launch more projects

Condominiums Costa del Sol and The Bayshore. Home buyers picked up more units in January as developers put out more residential projects for sale after the year-end lull. -- ST PHOTO: KEVIN LIM
Condominiums Costa del Sol and The Bayshore. Home buyers picked up more units in January as developers put out more residential projects for sale after the year-end lull. -- ST PHOTO: KEVIN LIM

SINGAPORE - Home buyers picked up more units in January as developers put out more residential projects for sale after the year-end lull.

A total of 372 units were sold last month, up from the 230 units in December, figures from the Urban Redevelopment Authority showed on Monday.

The improvement came as developers launched 415 new units in January, well up from 53 units in December.

On a year-on-year basis though, last month's sales tally was 35 per cent down from the 572 units sold in January 2013 and 24 per cent lower than the 549 units launched then.

EL Development's Symphony Suites, in Yishun, was the best selling property launch last month with 54 units sold at a median price of $1,010 per sq ft (psf).

CapitaLand's Marine Blue, in Marine Parade, came next with 32 units that were snapped up for a median price of $1,829 psf.

Including executive condos, a total of 556 units were sold in January.