A total of 419 units were sold at Seaside Residences, making it the top-selling project last month. (Photo: Frasers Centrepoint Singapore)
UPDATED: Property developers sold 1,555 new private homes in April 2017, down 12.6 percent from 1,780 units a month earlier, according to data released by the Urban Redevelopment Authority on Monday (15 May).
Seaside Residences along Siglap Link was the top-selling private residential project last month, with 419 units sold at a median price of $1,735 psf. This was followed by Artra at Alexandra View, which sold 126 units at a median price of $1,646 psf.
No new executive condominium (EC) projects were launched in April, but developers still managed to sell 371 EC units. The most popular EC project was Sol Acres in Choa Chu Kang Grove, which moved 122 units at a median price of $787 psf.
“There is a trend of greater market activities and rebound in consumers’ confidence, which have led to greater number of sales, even in projects that have already been launched earlier and nearing TOP dates,” said Mohamed Ismail, CEO of PropNex Realty.
“More consumers will come to the realisation that the market has bottomed out and prices are likely to inch upwards with the strong land bid prices we are currently witnessing. We are optimistic that the number of transactions will cross the 15,000 mark (including ECs) and 10,000 units (excluding ECs) by the end of 2017,” noted Ismail.