New home sales in Singapore drop in October as developers hold back major launches

New home sales fell 19 per cent in October from September as developers waited for November to roll out major launches. -- ST FILE PHOTO: KUA CHEE SIONG
New home sales fell 19 per cent in October from September as developers waited for November to roll out major launches. -- ST FILE PHOTO: KUA CHEE SIONG

New home sales fell 19 per cent in October from September as developers waited for November to roll out major launches.

Developers sold 1,009 units in October, down from 1,246 units in September, data from the Urban Redevelopment Authority showed on Friday. Both figures exclude executive condominiums (ECs).

The bulk of private homes sold in October were in suburban regions, at 71 per cent of the total number.

Sales of city fringe homes accounted for 21 per cent and those in the central areas made up the remaining 8 per cent.

The top-selling project in October was the 396-unit Inflora at Flora Drive, by Hong Leong. The developer sold 388 units at a median price of $952 per sq ft.

Next was Nine Residences in Yishun Avenue 9 by Chip Seng Seng. The 186-unit project sold 96 units at a median $1,107 psf.

Fewer than 50 units each were sold at each of the remaining developments.

Including ECs, a total of 1,108 new homes were sold in October.