Singapore developers sell almost twice as many private homes, executive condos in July

DEVELOPERS sold a total of 2,086 private homes and executive condominiums (ECs) - the public-private housing hybrid - in July, almost double the 1,064 units sold in June.

This came on the back of the sell-out at Hundred Palms Residences at Yio Chu Kang Road, where all 531 units were sold within seven hours of launch on July 22.

Consequently, Hundred Palms by Hoi Hup Realty topped the sales charts in July with a median price of S$843 per square foot (psf).

Last month, developers sold 1,108 private residential units, a 35 per cent increase from some 820 sold in June. Slightly more than half of the July sales were in the suburban region. Developers also moved 978 ECs in July, compared to 244 EC units in June.

The data is based on a survey of developers by the Urban Redevelopment Authority (URA).

Martin Modern by Singapore-listed GuocoLand was the second best-seller in July with 109 units sold at a median price of S$2,152 psf, inclusive of early bird discounts of 5 per cent.

Some earlier launched projects also fared well in July. MCC Land sold another 82 units at The Santorini at a median S$1,039 psf, bringing the number of unsold units in the 597-unit project down to nine.

EL Development moved another 73 units at Symphony Suites at a median S$1,035 psf; Qingjian Realty sold 65 units at the 497-unit iNz Residence, an EC project in Choa Chu Kang.