Of these top 10 sellers above, two are ECs - Parc Greenwich EC and OLA EC
Last month saw a rebound in new private home sales in October, reversing the downward trend seen in previous months. Based on caveats lodged, analysts estimated that property developers sold 903 residential units in Singapore last month, up 8.3 per cent from September's 834 units.
On a year-on-year basis, the latest estimates are 38.1 per cent higher than the 654 new private homes sold in October 2020 last year.
Buying momentum was boosted by the near sell-out of Jervois Mansion on its first weekend of sales. In September, when developers were holding back on major launches, new sales had dipped 31.4 per cent from August, representing the second consecutive monthly decline.
Located in the enviable CCR Chatsworth - Bishopsgate vicinity, Jervois Mansion's launch success could also be attributed to its expansive land, which is a rarity in the area. Jervois Mansion sold out almost all units except the units reserved by the developer for investment purposes partly because buyers were also attracted to the beautiful greenery within the development, such as vegetable gardens on the roof and sky planters surrounding each unit, to give the sense of being close to the ground. It is also the first private residential development in Singapore to be granted the Green Mark Gold Plus Super Low Energy certification by the Building and Construction Authority.
On a year-on-year basis, the latest estimates are 38.1 per cent higher than the 654 new private homes sold in October 2020 last year.
Buying momentum was boosted by the near sell-out of Jervois Mansion on its first weekend of sales. In September, when developers were holding back on major launches, new sales had dipped 31.4 per cent from August, representing the second consecutive monthly decline.
Located in the enviable CCR Chatsworth - Bishopsgate vicinity, Jervois Mansion's launch success could also be attributed to its expansive land, which is a rarity in the area. Jervois Mansion sold out almost all units except the units reserved by the developer for investment purposes partly because buyers were also attracted to the beautiful greenery within the development, such as vegetable gardens on the roof and sky planters surrounding each unit, to give the sense of being close to the ground. It is also the first private residential development in Singapore to be granted the Green Mark Gold Plus Super Low Energy certification by the Building and Construction Authority.
The market reflects growing interest in CCR projects
The market reflects growing interest in CCR projects
The most expensive new non-landed private residential property purchased last month, based on caveats lodged, was the S$75 million or S$6,210 psf penthouse unit at Shun Tak's ultra-luxury development Les Maisons Nassim far exceeding the second-highest price quantum in October - S$14.2 million for a unit at MeyerHouse, translating to S$2,499 psf.
Singapore's property market seem to be flushed with hot cash as 9 priciest condo transactions between S$10.6 million and S$13.8 million changed hands at Park Nova located along Tomlinson Road. The proportion of total new sales that were priced at S$2 million and above climbed to a high of 39 per cent in October, on the back of more transactions in the luxurious more expensive Core Central Region or CCR.
Singapore's property market seem to be flushed with hot cash as 9 priciest condo transactions between S$10.6 million and S$13.8 million changed hands at Park Nova located along Tomlinson Road. The proportion of total new sales that were priced at S$2 million and above climbed to a high of 39 per cent in October, on the back of more transactions in the luxurious more expensive Core Central Region or CCR.
Kiwi Lim from Huttons Asia believe that Singaporeans' dream of owning and living in a private residential property remains very much intact despite Covid pandemic and economic downturn. As Singaporeans are earning more and household incomes have been growing steadily, the allure of private residential living has led to affluent individuals and households upgrade and move into a private home or invest in a 2nd or 3rd private property. Singapore's sound governance, stable financial status, super convenient living and safe environment has all along made Singapore a very attractive investment location - both to locals and foreigners.
"As supply of available new condo units left in the market dwindles to a record low since 2006 and next year's upcoming new condo units to be launched into the market numbering less than 5,000 units, I expect property prices to continue increasing into the 3rd quarter of next year where the psychological mark of $2,000 psf for a mass market condo will be breached and accepted among local home buyers looking for a mass market private residential non-landed condo in the suburban OCR region." said Kiwi.
"As supply of available new condo units left in the market dwindles to a record low since 2006 and next year's upcoming new condo units to be launched into the market numbering less than 5,000 units, I expect property prices to continue increasing into the 3rd quarter of next year where the psychological mark of $2,000 psf for a mass market condo will be breached and accepted among local home buyers looking for a mass market private residential non-landed condo in the suburban OCR region." said Kiwi.
Based on The Business Times article on 12 Nov 2021
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