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New private home sales dipped month-on-month (m-o-m) in June owing to a dearth of mega launches (more than 500 units), but sales are expected to rebound this month in view of a slew of major launches. According to developers’ sales survey by the Urban Redevelopment Authority, developers sold 821 private homes – excluding executive condominiums (ECs) – last month, falling by 13.8 percent from the 952 units sold in May. Including ECs, developers moved 822 units. Developers released 670 new homes (including ECs) for sales, down 51.9 percent from the previous month.
Last month registered the highest number of sales for the month of June (excluding ECs) over the past six years. Last month’s figures were significantly higher (25.5 percent) than the number transacted last June and above June’s figures in 2017 (820 units), 2016 (536 units), 2015 (375 units) and 2014 (482 units).
The best-selling projects were Sky Everton (134 units), Treasure at Tampines (70 units), Parc Botannia (60 units), Parc Esta (58 units), The Florence Residences (48 units), Stirling Residences (33 units), The Tre Ver (31 units), The Woodleigh Residences (31 units) and Riverfront Residences (30 units). Higher sales were observed for a number of ongoing launches despite the June school holidays and being launched for a number of months. Some of these projects include Treasure at Tampines, Parc Botannia, Parc Esta, Riviere, Whistler Grand, Margaret Ville and Boulevard 88 (see Table 1). Steady sales were seen at other projects indicating that underlying demand for local private properties is still fairly healthy.
The market has also seen a surge in the number of new freehold condos (including those above 900-year leasehold tenures) being sold in May and June this year. According to URA Realis data downloaded today, 250 non-landed new freehold units were sold last month, while 316 units were transacted in May. The highest number of new freehold condo sales last recorded was in September 2013, when 439 units were transacted. The uptrend is expected to continue as more freehold units will be launched in the coming months. It is rare to have a good selection of premium, freehold projects being launched at choice locations. This could be a good opportunity for buyers to snag a freehold property; otherwise, they may have to wait for the next collective sales cycle that is likely to take place many years down the road.
Moving forward, many developers are expected to fast-track their launches ahead of the lunar seventh month. Some newly launched or upcoming launches include the 1,468-unit Parc Clematis, 820-unit EC Piermont Grand, 188-unit Haus on Handy, and 186-unit View at Kismis.
Note: New launch refers to units sold in projects that were launched in Apr 2019. Existing launch refers to units sold in projects that had been launched in prior months.
Best Selling Projects in June 2019