Sales in the property market increased its growth as mass and upper-mid-market condominium launched and attracted large crowds of buyers in June 2009 in Singapore.

According to a spokesman for developer Hoi Hup Realty, the 68-unit Residences Killiney project has sold 39 out of 60 released units within three days of its preview launch. The preview prices at the Killiney Road condominium ranges from $1,700 per square foot (psf) to $2,000 per square foot psf.

Meanwhile, Allgreen Properties’ One Devonshire, a 36-storey with 152-unit freehold condominium in Devonshire Road, has sold 95% of its condominium since its launch.

Far East Organization in Thomson Road area has sold 74 homes that is equivalent to 84% of the initial batch of its 88 units.

The company’s other project, a 280-unit freehold condominium, provides a range of accommodation from single bedroom to penthouse units starting from the price of $960 psf.

Chian Boon Kuah, chief operating officer of Far East’s property arm declares that the company will release another 45 units in July 2009. In the mass market, Frasers Centrepoint mentions that its two projects, the 8@Woodleigh and Woodsville 28, have already been sold out as of 29 June 2009, while CB Richard Ellis, marketing agent for Chip Eng Seng group’s Oasis@Elias, notes that half of the 142 units of Oasis@Elias at Pasir Ris have also been sold out. On the east coast, Marine Parade’s 94-unit Parc Seabreeze that is marketed by HSR continues to sell well.

The head of research and consultancy at Chesterton Suntec International, Mr. Colin Tan, notes that due to the strong sales activity, there have been pent-up demands. However, he adds that the demand is not sustainable.

Nicholas Mak, property expert, expects a moderation of purchasing activity in the next months because of the upward revision of prices by the developers.