Private home sales inch up 7.6% to 509 units in September

Around 74% are accounted for in the Outside Central Region.

Despite the absence of major property launches in Singapore for the past two months, recent figures revealed that home buyers are still interested in purchasing units, as developer sales saw a 7.6% improvement in September.

According to PropNex Realty, transaction volume rose at 509 units sold excluding executive condominiums in the said month compared to 473 new private homes sold in August.

PropNex Realty CEO Ismail Gafoor said the improvement reflects home buying behaviour entering into the market.

"Home buyers’ heightened confidence in purchasing projects that were launched earlier can be witnessed in the September’s Top 5 hot-sellers – for example, Sol Acres and The Trilinq. These projects were launched some time ago, yet they topped the sellers’ chart for the last three consecutive months, largely due to developers’ sensitive pricing and discounts offered,” he said.

Bulk of the home sales, with 297 units sold came from Outside Central Region. In Rest of Central Region, sales were at 144 units.

Meanwhile, a total of 68 units were sold in Core Central Region.

With this, Gafoor said the private residential market is expected to surpass last year's performance.

"We expect new private home sales volume to be about crossing 1,000 units per month in the next 2 months and December to be slower, thus a prediction of exceeding 12,000 units (including ECs) for year 2016," he explained, saying this would be a 20% increase compared to 10,199 units sold in 2015.