Singapore private home sales fall 28% to 377 units in February from January: URA

SINGAPORE developers sold 377 private homes, excluding executive condominiums or EC units in February, a 28 per cent drop from the 524 units sold in January, amid a lull in the Chinese New Year month.

Year-on-year, sales suffered a 61.5 per cent drop from the 979 units sold in February 2017.

Even so, developers sold more than they launched in February. The 377 private homes sold in the month was more than double the 186 units launched.

URA's February developer sales data shows that among top selling projects in the month, 47 units were sold at Queens Peak, located at Dundee Road at a median price of S$1,730 per square foot (psf) and 34 units were sold at Kingsford Waterbay at a median S$1,349 psf.

There were also 30 units sold at Artra at a median price of S$1,726 psf, 26 units sold at Grandeur Park Residences in Bedok South at a median S$1,487 psf, and 24 units sold at Parc Life EC in Sembawang at a median S$836 psf.

Inclusive of ECs, which are a public-private housing hybrid, developers found buyers for 469 units last month, a 24.8 per cent drop from the 624 units sold in January 2018, and a sharp 64 per cent drop from the 1,308 units sold in February 2017.

A new project launch by Far East Organization, Parksuites at Holland Grove, launched 50 units last month but sold three units at S$2,215 psf.