Developers sold 23% more private homes and ECs in 2017: URA estimates

Buyers thronging the showflat of Grandeur Park Residences in February 2017.
Buyers thronging the showflat of Grandeur Park Residences in February 2017.PHOTO: ST FILE
An artist's impression of the 660-unit Symphony Suites in Yishun. About 50 units were sold at Symphony Suites in December 2017.
An artist's impression of the 660-unit Symphony Suites in Yishun. About 50 units were sold at Symphony Suites in December 2017.PHOTO: EL DEVELOPMENT

SINGAPORE - The number of private homes and executive condominiums (ECs) sold by developers in 2017 hovers at 14,707 units, 23 per cent higher than the 11,971 units sold in 2016, based on preliminary estimates from the Urban Redevelopment Authority (URA) on Monday (Jan 15).

The sales in 2017 include 10,682 private residential units, 34 per cent more than the 7,972 units sold in 2016.

The figures are based on the developers' sales survey conducted by the URA and final sales data from the first three quarters of last year.

URA's latest estimates also show that developers sold 531 private residential units and executive condominiums in the typical lull month of December, 43 per cent below what they sold in November.

Of these, about 100 executive condominiums (EC) were sold last month, fewer than the 149 EC units sold in November.

Last month, the top selling projects belonged to EL Development. About 50 units were sold at Symphony Suites at a median of S$1,027 per sq ft (psf), and 44 units at Parc Riveria sold at a median of S$1,223 psf.

Parc Botannia, which was launched in November by Sing Holdings and Wee Hur, moved another 32 units at a median of S$1,283 psf in December.