In July 2019, records had shown that there were 1,178 new launch condos and apartments sold in Singapore. This figure is higher compared to the sales made in the previous month. However, this number is still much lower in comparison to the number of units sold in July 2018. Last year July, there were slightly above 1700 residential units sold. The sharp increase in number was also possibly due to the last-minute rush for buyers who are rushing to make their property purchases before the property measures officially kicked in.
There were also more new launch units being launched for sale in July than June. The number of units released has significant dropped as compared to the year 2018. The above numbers do not include executive condominiums that were released for sales by developers.
There were more than 1550 private residential units sold if EC were to be included in the calculation. This is almost a 90% increase in units comparing to the apartments sold in June 2019. The total number is approximately 12.4% less than July 2018.
Piermont Grand which is the latest Executive condominium in Punggol was the best-selling development in July. The development has a total of 820 apartments within its developments and is located along Sumang Walk. This Punggol EC was the only EC development released in the year of 2019. A. total of 378 units were sold and the median price of the developments is at approximately $1,107 psf.
Other than Piermont Grand EC, another two private developments that have performed well in their sales include One Pearl Bank and Sky Everton. These 2 projects are both located close to the city near the Chinatown/Everton region. One Pearl Bank is located next to Outram MRT Interchange while Sky Everton, which is a freehold condo is located close to the upcoming Cantonment MRT station.
Mass market projects such as Florence Residences which is located in the Hougang / Kovan Estate has also been showing good sales volume. It is believed that the real estate market will stay resilient and developments that are of good locations and prices will still attract investors and homebuyers.
Some of the new launches that will be releasing soon include Parc Clematis in the West of Singapore, The Antares which is next to Mattar MRT station (East Singapore) and Avenue South Residences which is located right at the edge of the city.
Interested to find out more about this? Visit the web link below,
https://www.straitstimes.com/business/property/private-home-sales-up-435-in-july-with-1178-units-sold
