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.