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January’s private home sales may have improved from the mere 632 units sold in December, as developers could have sold about 1,700 to 1,800 private homes, not including executive condominiums (ECs).
Sales dropped 53 percent year-on-year and 63 percent month-on-month in December, down from the 1,702 units sold in November. If ECs, a private-public housing hybrid are counted, December’s sales would hit 670 units, still down 61 percent year-on-year and 64 percent month-on-month.
However, figures for January will increase, with ECs included.
Far East Organization boosted the bulk of January sales with 1,253 private homes (including at joint-venture projects). The figure accounted for its two projects – The Hillier and Watertown (pictured).
January’s best-selling project - Watertown in Punggol, sold 771 units, while The Hillier followed with options for the 387 units issued.
Over at Woodlands, Fragrance Group and World Class Land sold around 200 units at the Parc Rosewood condo. Around 80 units at Riversound Residence in Sengkang East Avenue found buyers while The Nautical in Sembawang sold 85 units. ECs counted, City Developments Ltd sold 224 units.
“I think many of us in the market are surprised by the strong sales in January,” said Ong Choon Fah, Chief Operating Officer at DTZ Southeast Asia, adding that the strong numbers were mainly accounted for by Watertown and The Hillier.
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Reader Comments: (5 comments)
lift the stamp duty for the 1st time buyer
What locals would like to see is PRs and foreigners combined purchase to be less than 5%, allowing Singaporeans to have the first bite of the pie in our home country.
Foreigner is only 3% in Jan Sales. Local player has deep pocket and like promotion discount. It's right chemistry between smart developer, good project and happy local buyer.
I strongly support 20% raise for ABSD for foreign buyers. Govt should stop any discount sale of property by developers more the 5% in any form. This is to prevent manipulation and dilute the cooling measures introduced by the govt to stop speculation.
This shows that there is still demand from locals. Raise ABSD for foreigners to 20%.