October 17, 2016 4:03 PM
No new housing projects were launched in September last month but developers sold more private homes in September. A total of 509 private housing units were sold in the month, compared to 341 units in the same period last year and 468 units in August.
Among previously launched projects, Lake Grande in Jurong was the top performer in the month, with 29 units sold in the month at a median price of $1,312 psf. Trailing behind is The Trilinq with 28 units sold at a median price of $1,405 psf and Kingsford at Waterbay with 23 units sold at a median price of $1,202 psf.
Ong Teck Hui, National Director of Research & Consultancy at JLL, says “September is an uneventful month for new sales in the private residential market, but the next couple of months are expected to be more active and will provide a clearer indication of the direction of the market with the launch of The Alps Residences (626 units), Forest Woods (519 units), Queens Peak (736 units) and Parc Riviera (752 units).” He also notes that The Alps Residences and Forest Woods found keen interest amongst buyers and achieved good sales take-up.
Developers sold less executive condominium units in September, due to fewer launches. Sales figure dropped by 21% m-o-m and 10% y-o-y. The last EC projects launched was Treasure Crest and Northwave in July.
Treasure Crest was the top-performer in September with 38 units sold at a median price of $746 psf. This is followed by Sol Acres with 36 units sold at a median price of $800 psf and The Terrace with 28 units sold at a median price of $787 psf.
"The current momentum of the market is likely to result in both launches and take-up in 4Q16 exceeding the 1,333 units launched and 1,603 units sold in 4Q15. It is estimated that 7,500 to 8,200 private residential units would be sold by developers in 2016, exceeding the 7,440 units sold last year,” Ong notes.
8-way tussle for New Upper Changi Road site
Grandeur Park Residences New Launch after CNY 2017
February 24, 2016
A residential land parcel near Tanah Merah MRT station at New Upper Changi Road/ Bedok South Avenue 3 garnered a total 8 bids at the close of its public tender on Tuesday, 24 February 2016. The land parcel was triggered for sale from the Reserve List of the Government Land Sales (GLS) Programme in January 2016. CEL Development, a subsidiary of Chip Eng Seng (CES) Corporation, topped the list with an offer of $419.38 million or $761 psf ppr, 0.8% above the next highest offer of $754 psf ppr submitted by Allgreen Properties. The top bid is 3.8% below the land sales price of its adjacent development, The Glades, which was awarded to Sherwood Development Pte Ltd, a joint venture between Keppel Land and China Vanke, in October 2012.
CES Corporation has proposed a full-condominium facilities development comprising of an estimated 720 residential units and a childcare centre for the 24,394 sqm residential land site in a public statement submitted to Singapore Exchange on Tuesday. 500 sqm of the maximum 51,228 sqm Gross Floor Area (GFA) will be allocated for the childcare centre.