Singapore new private home sales jump 83.4% in April

Potential buyers at the Botanique at Bartley showflat. -- PHOTO: UOL GROUP
Potential buyers at the Botanique at Bartley showflat. -- PHOTO: UOL GROUP

SINGAPORE - Sales of new private residential units rose 83.4 per cent in April from March, boosted by two condominium launches, according to figures from the Urban Redevelopment Authority on Friday.

Developers sold 1,124 new homes in the month, which saw 1,344 units being launched. April's sales were the highest since May 2014 and compared to 613 units sold in March.

April's sales were also 47.5 per cent up from a year back, where 762 new private homes were sold and 606 units launched.

But it was still down from April 2013, when 1,384 new units were sold and 1,162 units launched.

Last month's sales was led by North Park Residences in Yishun, which launched in the month and sold 486 units at a median price of $1,374 per sq ft (psf).

Another top seller was Botanique at Bartley in Upper Paya Lebar, which also launched in the month and sold 254 units at a median price of $1,290 psf.

This meant about 86.7 per cent of sales, or 975 units, were from the suburbs.

Sales numbers were boosted by the fact that units at the two new launches were priced conservatively.

Over 70 per cent of the units at Botanique at Bartley were priced below $1 million and on the smaller size. One bedders at the project are from 495 to 689 sq ft and two-bedroom units from 657 to 958 sq ft.

Units at North Park Residences were priced at an average of $1,300 psf. Prices were from $612,000 for a studio; $840,000 for a two-bedroom unit of 624 sq ft, and $1.049 million for a three-bedder.

The city fringes made up about 10.1 per cent of sales or 113 units, while the central region made up about 3.2 per cent of sales with 36 units sold.

Including executive condominiums, 1,218 units were sold last month.