Forest Woods, The Alps Residences drive home sales in October

Sales volume surged 128% to 1,252 units.

The analyst were proven right when take-up of new private homes surged in October, reaching 128% to 1,252 units sold.

According to Christine Li of Cushman & Wakefield, this has been the highest new home sales this year and since July 2015.

"The year-to-date new home sales have reached 6,908 units. If we include the sales by Queens Peak and Parc Riviera over the last two weeks, it will reach a total of 7,254 units, just a tad lower than last year's full year figure of 7,440 units. With two more months to go, it is expected that the total developer sales figure for 2016 will come in at around 8,000 units," Li said.

What drove the surge in take-ups, she stressed, were the new launches comprising Forest Woods and the Alps Residences.

Li noted that Forest Woods sold 364 out of 519 units at a median price of $1,412 psf, cashing on its location in the matured Serangoon town and lifestyle offerings. Meanwhile, The Alps Residences at Tampines sold 334 units, 53% of the total units, at a median price of $1,078 psf.

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