Developers kept up sales pace in October with 969 homes sold, up 7% from September

Blocks of high-rise condominiums in the Orchard Road estate.
Blocks of high-rise condominiums in the Orchard Road estate.PHOTO: ST FILE

SINGAPORE - Developers kept up their sales pace in October with some 969 new private residential homes and executive condominiums (ECs) sold, up 7 per cent from September.

This came as they launched more units - 242 homes - during the month, up from 73 homes in September.

Excluding ECs, the 758 private residential units sold in October also represented a 15 per cent increase from September.

The data was obtained through a survey of developers by the Urban Redevelopment Authority (URA), released on Wednesday (Nov 15).

The only new project launch in October was The Navian by Roxy-Pacific Holdings in Jalan Eunos, which launched 24 units of 48 units and sold 12 units at a median price of S$1,543 per square foot (psf).

But top selling projects were those that were already previously launched. Topping the list in October was Sophia Hills, jointly developed by Hoi Hup Realty and Sunway Developments. The project at Mount Sophia sold 62 units in October at a median price of S$2,029 psf, bringing cumulative units sold to 446 units.

This was followed by Martin Modern, developed by GuocoLand, which moved 47 units in October at a median S$2,343 psf. Qingjian Realty sold another 45 units at EC project iNz Residence at a median S$797 psf.

Some 44 per cent of the private residential units sold by developers in October were in the Outside Central Region, while 37 per cent were in the Rest of Central Region. The 19 per cent balance were located in the Core Central Region.