Developers' home sales in Nov down 31.4% from Oct, 13.3% up y-o-y

SINGAPORE residential sales clocked by developers in November were stronger than a year ago but weaker compared to October, according to statistics released by the Urban Redevelopment Authority (URA) on Friday.

Last month, developers sold 860 private residential units, 31.4 per cent lower than October, but 13.3 per cent higher than a year ago.

Including executive condominiums (ECs), they sold a total 1,110 units, which marked a 28 per cent decline from a month ago but a 17.5 per cent increase from last year's November.

The city-fringe region or the Rest of Central Region (RCR) accounted for 48.6 per cent of private residential sales in November, followed by the suburbs or Outside Central Region (OCR) at 47 per cent. In a dearth of new launches in the Core Central Region (CCR), sales in the prime region accounted for only 4.4 per cent of the sales.

As expected, the two bestsellers in the month were new launches by Hao Yuan Investment and EL Development.

Queens Peak, a project by Hao Yuan Investment at Dundee Road, moved 271 units in November at a median price of S$1,628 per square foot (psf), while Parc Riviera by EL Development at West Coast Vale sold 128 units at a median S$1,189 psf.