Private home sales rose 2 per cent last month: Urban Redevelopment Authority

SINGAPORE - Developers sold more apartments last month as home buyers picked up a larger number of units that had been sitting unsold at projects launched some time ago.

A total of 382 units were sold last month, in a modest 2 per cent gain from the 374 units in January, according to figures released by the Urban Redevelopment Authority on Monday.

The improvement came as just one new project was put on the market for the month, bringing the total number of new units up for sale to 357 in February, down from 421 units in January.

On a year-on-year basis, last month's sales tally was 48 per cent lower than the 739 units sold in February 2014 and 691 units launched then.

In February, GuocoLand launched its 1,024-unit Sims Urban Oasis project in Aljunied, selling 112 units at a median price of $1,397 per sq ft (psf).

Though World Class Land's Citygate mixed-development was the next best-selling development, the 311-unit project in Beach Road shifted just 22 units at a median price of $1,830 psf in February, bringing the total sales up to 167 so far.

EL Development's Symphony Suites in Yishun, first launched in January, managed to sell 18 more units at a median of $1,008 psf, shoring up total sales to 71 units.

Including executive condominiums, which are a hybird of private and public housing, 447 units were sold last month - down from 558 in January.