New home sales rise sharply

Potential buyers at the launch of Forest Woods Condominium showflat at Lorong Lew Lian on Oct 8, 2016.
Potential buyers at the launch of Forest Woods Condominium showflat at Lorong Lew Lian on Oct 8, 2016. ST PHOTO: MARK CHEONG

Developers sold 1,252 new private homes last month, more than double the 509 units transacted in September. This is the highest monthly new home sales since July last year, when 1,655 units were moved.

Last month's new home sales were 128 per cent higher than the 549 units moved in the same month last year. The sharp increase was largely due to brisk sales at two new projects launched last month - City Developments' Forest Woods in Serangoon Central and MCC Land's The Alps Residences in Tampines. Together, they accounted for 55 per cent of total sales.

Forest Woods was the top-selling project last month with 364 units sold, followed by The Alps Residences, which moved 334 units.

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A version of this article appeared in the print edition of The Straits Times on November 16, 2016, with the headline 'New home sales rise sharply'. Print Edition | Subscribe