September new home sales hit 987 units, more than double August’s 438 units

by Albert02

September new home sales hit 987 units, more than double August’s 438 units

September new home sales hit 987 units, more than double August’s 438 units. The number of new private residences sold in September more than doubled from the previous month, owing to two significant launches that set new price benchmarks for suburban housing. Developers in Singapore sold a total of 987 units, excluding executive condominiums, according to figures issued by the Urban Redevelopment Authority (URA) on Monday (Oct 17). (ECs). This represents a 125.3 percent increase over August’s 438 units and an 18.3 percent increase year on year.

In September, 992 units were sold, compared to 449 in August and a 23.5 percent decrease from the previous year. Meanwhile, 913 units were introduced in total last month, about seven times the 134 units launched in August and 29.3% more than the number launched in September 2021. Excluding ECs, September’s 913-unit total was likewise much greater than the 210 units introduced the previous year. More than two-thirds of new private residential unit take-up, excluding ECs, occurred in the suburbs or outside the core region (OCR), with 686 units sold. The core central region and the city edge, or the rest of the central region, sold 198 and 103 apartments, respectively.

Lentor Modern and Sky [email protected], both in the suburbs, were among the best-selling projects for the month. GuocoLand’s Lentor Modern, which is being developed in Yio Chu Kang, put 605 units on the market in mid-month and sold 512. Early in September, Frasers Property debuted its 158-unit Sky [email protected] and sold 121 units. Both projects had median pricing of more than S$2,100 per square foot when they were released (psf). According to real estate firm JLL, Lentor Modern and Sky [email protected] units accounted for 83.6 percent of all units opened in September.

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Source: https://www.businesstimes.com.sg/real-estate/september-new-home-sales-hit-987-units-more-than-double-augusts-438-units


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