New private home sales up 86.5% to 716 units in March from February

The crowd at the launch of The Tapestry condominium, located at Tampines Street 86, which sold 329 units in March.
The crowd at the launch of The Tapestry condominium, located at Tampines Street 86, which sold 329 units in March.PHOTO: CITY DEVELOPMENTS LTD

SINGAPORE - Developers sold 716 private homes in March this year - 86.5 per cent higher than the 384 units sold in February 2018, but nearly 60 per cent lower than the 1,780 units in March last year.

These figures exclude executive condominium (EC) units, which are a public-private housing hybrid form.

Inclusive of ECs, developers moved 788 units last month, again higher than the 476 units in February 2018, but lower than the 2,358 units in March last year.

The above information was released on Monday (April 16) by the Urban Redevelopment Authority, based on its survey of licensed housing developers.

The top-selling project last month was The Tapestry in Tampines, with 329 units sold at a median price of S$1,408 psf.

At Grandeur Park Residences in Bedok South Avenue 3, a total of 40 units were sold last month at a median price of S$1,532 psf.

JLL national director Ong Teck Hui said: "A pick-up in launches and sales take-up is expected in April with the market becoming more active. Several projects have already been launched including Harbour View Gardens, The Verandah Residences and Park Place Residences at PLQ (Phase 2), with others in the launch pipeline."