Developers sold 1,056 private homes in May 2016, up from 748 units in April

DEVELOPERS sold 1,056 private homes excluding executive condos (ECs) in May 2016, up 41.2 per cent from 748 units in April this year and also higher than the 643 units they found buyers for in May last year.

At Gem Residences in Toa Payoh, 312 units were sold last month at a median price of S$1,431 per square foot, according to developers' monthly housing sales data released by the Urban Redevelopment Authority on Wednesday.

Including ECs, which are a public-private hybrid housing form, developers moved 1,388 units in May 2016, again higher than the 1,295 units they sold in April this year and 853 units they sold in May last year.