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 houses sold in September more than quadrupled from the previous month, thanks to two large launches that set new price norms for suburban housing. The Urban Redevelopment Authority (URA) said on Monday that developers in Singapore sold a total of 987 units, excluding executive condominiums (October 17). (ECs). This represents a 125.3 percent increase over the 438 units sold in August, as well as an 18.3 percent year on year gain.
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 released last month, about seven times the 134 released in August and 29.3% more than the number released in September 2021. Excluding ECs, the total of 913 units introduced in September was also much greater than the 210 units launched the previous year. The suburbs or outside the core area (OCR) accounted for more than two-thirds of new private residential unit take-up, accounting for 686 units sold (excluding ECs). The city perimeter and the core central region, or the remainder of the central region, each sold 198 and 103 units.
Lentor Modern and Sky [email protected], both in the outskirts, were among the best-selling projects this month. GuocoLand’s Yio Chu Kang-based Lentor Modern listed 605 flats in mid-month and sold 512 of them. Frasers Property launched its 158-unit Sky [email protected] development in early September and sold 121 units. The median price per square foot when both projects were introduced was more than S$2,100 (psf). According to real estate firm JLL, Lentor Modern and Sky [email protected] flats accounted for 83.6 percent of all units opened in September.
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