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Let the figures speak for themselves!


New private home sales jump 83.4% in April: URA
PUBLISHED ON MAY 15, 2015 12:57 PM 0 0 0 0
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Potential buyers at the Botanique at Bartley showflat. -- PHOTO: UOL GROUP

BY RENNIE WHANG

SINGAPORE - Sales of new private residential units rose 83.4 per cent in April from March, boosted by two condominium launches, according to figures from the Urban Redevelopment Authority on Friday.

Developers sold 1,124 new homes in the month, which saw 1,344 units being launched.

The sales figure was 47.7 per cent up from a year back, where 761 new private homes were sold and 600 units launched.

But it was still down from April 2013, when 1,384 new units were sold and 1,162 units launched.


Last month's sales was led by North Park Residences in Yishun, which launched in the month and sold 486 units at a median price of $1,374 per sq ft (psf).

Another top seller was Botanique at Bartley in Upper Paya Lebar, which also launched in the month and sold 254 units at a median price of $1,290 psf.

This meant about 86.7 per cent of sales, or 975 units, were from the suburbs.

The city fringes made up about 10.1 per cent of sales or 113 units, while the central region made up about 3.2 per cent of sales with 36 units sold.

Including executive condominiums, 1,218 units were sold last month.

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http://business.asiaone.com/property...-leap-83-april

Sales of new private homes leap 83% in April

Rennie WhangThe Straits TimesSaturday, May 16, 2015

New private home sales jumped an eye-catching 83.4 per cent last month from March.

But experts say the strong upswing is unlikely to herald a market rebound as it was largely driven by two newly launched projects. The two large condominiums - in Yishun and Bartley - were launched at competitive prices that drew buyers.

Developers sold 1,124 new private homes last month, when 1,344 units were launched, according to figures released by the Urban Redevelopment Authority yesterday.

It was the largest number of sales since May last year, and far higher than the 613 homes sold and 400 launched in March.

But experts cautioned against reading the jump as a broad-based recovery in sentiment as nearly two-thirds of the sales - 65.8 per cent - were from these two launches, which were priced to suit the market.

At the 920-unit North Park Residences, which led sales with 486 units transacted at a median price of $1,374 per sq ft (psf), 73 per cent of caveats lodged so far are for units priced below $1.2 million, noted Mr Eugene Lim, ERA Realty key executive officer.

Mr Elson Poo, general manager of marketing and sales at Frasers Centrepoint Homes, said: "Our studio and two-bedroom units have been the most popular, with quantum ranging between $620,000 and $695,000 for studio and $864,000 to $1 million for a two- bedroom unit." Studios are sized at about 431 sq ft while two-bedders are from 624 sq ft.

At Botanique at Bartley, which was the next biggest seller at 254 units sold at a median price of $1,290 psf, 84 per cent of units sold were less than $1.2 million, based on caveats, said Mr Lim.

More than 70 per cent of its 797 units are priced below $1 million, with one-bedders from 495 sq ft and $598,000, and two-bedders from 657 sq ft and $798,000.

A third new launch last month was 84-unit Neem Tree in Balestier, which put 24 units on the market but did not sell any.

Stellar sales at North Park Residences and Botanique at Bartley boosted sales numbers in the suburbs, where 975 units were sold in the month.

In the city fringe, 113 units were sold, led by Sims Urban Oasis, which was launched in February and sold 41 units at a median price of $1,411 psf last month. Another 17 units were picked up at City Gate in Beach Road at a median price of $1,880 psf.

Apart from these two projects, interest remained subdued at other projects in the region - even as units were released from previously launched developments, including The Orient in Pasir Panjang and The Venue Residences in Potong Pasir, said Colliers International director of research and advisory Chia Siew Chuin.

Launch and sales activity stayed muted in the central region, with 11 units relaunched at Greenwood Mews and Novena Regency. In all, 36 units were sold in the region.

The overall sales figure for the month, including executive condominiums, a public-private housing hybrid, was 1,218 homes, a 76 per cent rise from March.

Developers are expected to sell fewer units this month, in view of a dearth of new launches in the month so far, said OrangeTee research manager Wong Xian Yang.

And while North Park Residences, a "unique development integrating retail, residential and transport connectivity", certainly moved sales, subsequent months' sales performance will depend on the sales progress of large projects launched recently, and whether significant fresh launches will keep the momentum going, added JLL national research director Ong Teck Hui.

2 in 3 North Park Residences buyers are HDB upgraders

NORTH Park Residences in Yishun appears to be popular among upgraders, said Mr Elson Poo, general manager, marketing and sales, at Frasers Centrepoint Homes.

About two in three buyers are current HDB dwellers. Another 20 per cent have a private non-landed address, and 14 per cent have a private landed address. A small number have foreign addresses.

Most buyers are aged 31 to 50 and most of those from this age group are also upgraders from HDB flats, Mr Poo noted.

The 920-unit project has sold 526 of 670 units released so far, or 78.5 per cent, with an average selling price of $1,300 to $1,400 per sq ft.

Two-thirds of units sold are two-bedders or smaller, reflecting the overall mix of units at the project, which
has studios to five-bedroom units.

"We have sold about 80 per cent of our studio-style Suite units, indicating an upward trend of homebuyers investing in smaller-sized apartments," said Mr Poo.

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This article was first published on May 16, 2015.
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