New home sales down 31.4% to hit 834 in September 2021

Meanwhile, a record 583 non-landed homes sold for more than $2m each in the first nine months of the year.

New home sales declined to 834, down 31.4%, in September according to latest data from the Urban Redevelopment Authority (URA).

This is also a 37.2 drop from the 1,216 units sold in August.

 Including Executive Condominiums (ECs), there was a 2% m-o-m drop to 1,296 units in the same period.

Only 210 launched units, excluding ECs, were unveiled. No major launches in Outside of Central Region (OCR) were recorded, while the 115-unit Bartley Vue in the Rest of Central Region (RCR) and 120-unit Jervois Mansion in the Core Central Region were seen in the month (CCR). 

Due to this, demand then shifted towards previously launched projects, with the bulk of which are from the OCR. 42.7% of new purchases were from OCR, with RCR  and CCR having 37.2% and 20.1% respectively.

Meanwhile, a record number of new condominiums were sold for at least $2m each in OCR. a recorded 583 non-landed excluding ECs in OCR were transacted in the first nine months of the year. 

These condominiums came from 24 projects, with the most being from Parc Clematis with 161 units sold. Four large condominium units above 200 square meteres were sold at Parc Clematis and Whistler Grand for at least $3m each.

When compared to last year’s numbers, only 312 non-landed homes in OCR were transacted in last year.

This positive market sentiment is expected to continue, as Christine Sun, Senior VP of Research & Analytics, explains that with the lessening of restrictions and the setting up of more Vaccinated Travel Lanes, an increase in foreign buyers is expected to follow as well.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Singtel had the most growth for the day.
This is despite its improved performance in two categories.
The expected increase will be driven by three factors.
The two also discussed post-pandemic recovery.
It also recorded a strong performance for H1 2021, despite a net loss of $150.6m.
Jigger & Pony found itself retaining its ninth ranking.
The moderate increase was driven by expansions in five out of six indicators.
Perpetual (Asia) Limited is on the other end of the agreement, as the purchaser.
CLSA will serve as issue manager of the proposed spin-off and listing.
Yangzijiang Shipbuilding had the most growth for the day.
The new facility is the first of its kind in Singapore.
Proceeds will be used for Olam's general corporate purposes.
The completion of divestment will take place during the first quarter of 2022.
This is to raise gross proceeds of more than $200m.