Singapore new home sales rise 23.8% in June, driven by demand for suburban units

Buyers and agents queuing to enter the J Gateway showflat on June 28, 2013. Sales of new homes continued to rise last month, with home buyers picking up 1,806 units directly from developers. -- ST FILE PHOTO: DIOS VINCOY JR
Buyers and agents queuing to enter the J Gateway showflat on June 28, 2013. Sales of new homes continued to rise last month, with home buyers picking up 1,806 units directly from developers. -- ST FILE PHOTO: DIOS VINCOY JR

Sales of new homes continued to rise last month, with home buyers picking up 1,806 units directly from developers.

This was more than the 1,768 new units launched last month, figures from the Urban Redevelopment Authority (URA) showed on Monday.

June's sales also marked a 23.8 per cent increase from May's new home sales of 1,459 units, which itself was also up 5.4 per cent from April's tally of 1,384 units. All figures exclude executive condominium (EC) sales.

Buying in the suburban areas drove last month's home sales. Three quarters of the units sold in June were located outside the central region, the URA said.

Only about 6 per cent of the units sold were located in the prime central districts, with the remaining 18 per cent located in city-fringe areas.

Including ECs, developers sold a total of 2,119 units last month, up 10.6 per cent from the 1,916 units sold in May, URA data showed.

J Gateway in Jurong was by far the best-selling development last month, with 737 units sold at a median price of $1,486 per sq ft (psf).

Other strong sellers included Jewel @ Buangkok, where 282 units were sold at a median price of $1,183 psf, and Forestville in Woodlands, an EC where 226 units were sold at a median price of $730 per sq ft (psf).