SINGAPORE-The number of new homes launched in May surged more than 200 per cent in May but sales were up 30 per cent - most of which went to projects that paid good agent commissions, analysts say.
Some 1,394 private homes were released for sale in May, up nearly 214 per cent from the previous month's 444 units, and up 32 per cent from the 1,060 units launched in the same month a year ago.
This is according to figures released by the Urban Redevelopment Authority (URA) on Monday (June 17).
Developers sold 952 units in May, up nearly 30 per cent from the 735 private homes sold in April, but down 15 per cent from the 1,122 units booked in the same month last year.
Savills Singapore research head Alan Cheong noted: "Sales were concentrated in projects like The Woodleigh Residences in Bidadari, mega projects like Treasure At Tampines, and some others, where developers paid good commissions of over 2 to 3 per cent. But sales languished in projects that didn't pay as good a commission."