,Singapore

New private home sales rebound 146% in November to 1,198 units sold

Parc Esta, Whistler Grand and Kent Ridge Residences were amongst the top-selling launches.

Developers in Singapore sold 1,198 private homes in November which is a whopping 146% MoM increase from October’s 487 units sold, according to the latest data released by the Urban Redevelopment Authority (URA). YoY, new private home sales soared 52%.

Including executive condominiums (ECs), new private home sales jumped 135.7% MoM to 1,202 units in November from the 510 units in October.

The number of new homes launched surged from 202 units in October to 1,341 in November. The month’s top-selling projects included Parc Esta (450 units), Whistler Grand (300 units), Kent Ridge Residences (250 units), 3 Cuscaden (96 units) and Arena Residences (70 units).

Also read: Private property supply jumped 58.7% in Q3

Buyers also continued to find value in existing projects such as Park Colonial, Riverfront Residences and Stirling Residences which had median prices of $1,739 psf, $1,324 psf and $1,723 respectively, ERA Realty Network executive officer Eugene Lim commented.

“The gap between the number of units being launched and sold within the same month have narrowed since the beginning of this year,” Christine Sun, Orange Tee & Tie head of research and consultancy, said in a statement. “This trend may indicate that developers are generally adopting a more cautious stance in pacing the number of launched units in sync with what the market can absorb every month to avoid an oversupply of units in the market.” 

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!

VSTPL’s failures placed the trust at a higher risk of being used as a conduit for illegal activities, says MAS.
The growth rate estimate is lower than the 2021 forecast of 6.6%.
The bank assured customers that it employs a multi-layered defence system against fraud.
This after S-REITs delivered a modest 6% in total returns in 2021. 
Banks are asked to remove links in emails and SMS sent to customers.
It will redeploy the proceeds from this divestment into higher-yielding assets.
The US, the UK, and Australia were their top destinations during the year-end. 
The company offered 0.6 million units at $5 each.
96% of respondents also believe that this is essential to their organisation. 
The record surpassed Bloomberg's estimate of 13.5%.
 Sembcorp Industries had the most growth.
Globally, the percentage of workers who had the same sentiment was lower at 51%.
Two operators, Daenerys and Deodi, have shut down their ATM machines in the city.
Jalan Tembusu, meanwhile, saw a strong performance due to the opportunity present in the area.
Users can now link accounts from Bank of China, DBS, Maybank, OCBC, StanChart, and UOB.