buying momentum returns for property Buyers

Sims Urban Oasis saw an increase in buyers who are attracted by the attractive price of this city fringe home

March and April 2016 saw a surge in interest and buying sentiment for new Executive Condominiums, new residential condominium projects in Singapore as property buyers accept the fact that cooling measures are here to stay for a while more as the government reiterated its stance against tweaking the cooling measures leading to brisk sales at recent launches and existing projects resulting in a spike in sales.

Top sales figures for March and April 2016:

• The Terrace EC in Punggol sold more than 74 units over both months. The total sales volume could be higher as the caveats in the last week of April have yet to be published.
  
• The Amore, The Vales and The Brownstone moved at least 69, 62 and 58 units respectively in March and April.
  
• Wandervale EC sold all 82 of its four-bedroom units
  

The Amore, along with The Terrace, The Brownstone, Bellewaters and Bellewoods, are among the few remaining EC projects where buyers are exempted from paying a resale levy as the sites were launched before Dec 9, 2013.

Many buyers are returning to Lakeville in Jurong. Its strategic location and proximity to the lake is very attractive.

In the private residential segment, the five bestselling existing projects moved between 40 and 90 units each over March and April. In the same period last year, sales volume for the five bestselling existing projects generally hovered in the 40 to 50 unit region each. One- and two-bedroom units dominated sales activity, which came as no surprise given the punitive nature of the ABSD and lending regulations on pricier units.

Among the existing launches, these projects below topped the sales chart in March and April 2016:

• The Poiz Residences topped the sales chart in March and April with at least 91 units sold.
  
• Kingsford.Hillview Peak sold at least 79 units
  
• Botanique at Bartley sold at least 74 units
  
• Kingsford Waterbay, Lakeville, Sims Urban Oasis, Sky Vue, Symphony Suites, The Glades and The Trilinq moved 30 to 40 units each over March and April.
  

Number of units sold in existing launches - extracted from The Edge Property

At new launches, Qingjian Realty is understood to have sold more than 160 units at The Visionaire. The EC project was launched in April and positioned as the next-generation smart home. Sim Lian Group has sold over 300 units at its Wandervale EC, which was launched in March. Buyers also snapped up 122 of the 305 units in Sturdee Residences at its VIP preview on April 23 weekend.

- Extracted from The Edge Property online.