New home sales up 29.5% m-o-m in May: URA


Despite the cooling measures , buyers seem unfazed as May 2019 sees a 29.5% increase of new developer sales (excluding ECs) as compared to April 2019, bringing the total sales to 952 units sold out of 1394 units released in May 2019. RCR (Rest of The Central Region) took the lead at 51.3% followed by OCR (Outside Central Region) with 42.8% and lastly the CCR (Core Central Region) at 6%.

2019 thus far sees a total of 3,525 units sold out of the 4,827 units launched.

Almost 30% of new home sales or 273 units were transacted above $2,000 psf, as seen from URA data. The number of units transacted above $2000 PSF have also rose 661% from February to May 2019. Most of the sales comes from Amber Park in Marine Parade, The Gazania in Bartley, 3 Cuscaden in Orchard, Riviere in River Valley, Coastline Residences in Marine Parade, Fourth Avenue Residences in Bukit Timah, Marina One Residences in Marina Bay.

Under the ultra luxury sector, buyers remains enthusiastic as 48 new homes were sold for $3 million and above, the highest number lodged since May 2018 (56 units). Boulevard 88 sees its 5,672 sqft unit sold at $28 million ($4,936 psf) beating the its own record of another transaction in March 2019. However in June, Boulevard 88 another 6,049 sqft has been sold for a record of $5,125 psf , amounting to 31 million which is the fifth most expensive condo sold on record since 1995, proving the high end market in Singapore remains robust.



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