Private home sales to cool down in Dec, Jan

Parc Botannia is a 99-year leasehold condominium development located at Fernvale Rd in District 28.

Excluding executive condominiums (ECs), private home sales in Singapore slightly increased to 785 units in November compared to 760 units in the prior month, according to data from the Urban Redevelopment Authority (URA).

On a monthly basis, this represents a 3.3 percent gain versus than 15.7 percent growth seen in October, said OrangeTee. On a yearly basis, it translates to an 8.7 percent drop, but this is an improvement from the 39.3 percent plunge in the preceding month.

For the first ten months, private home sales surged by 31.6 percent compared to the same period in 2016, noted the property consultancy.

In November, the best-selling project was Parc Botania in the Outside Central Region (OCR), which found buyers for 253 units at a median price of $1,287 psf. Second, is Queens Peak in the Rest of Central Region (RCR), which moved 71 units at $1,694 psf. The third is Kingsford Waterbay in OCR, where 38 units changed hands for $1,346 psf.

For the whole of 2017, PropNex Realty CEO Ismail Gafoor expects private home sales to surpass 11,600 units (excluding ECs), while executive condominiums deals could reach around 4,100 units.

“Sales performance in December and January will likely taper due to the seasonal school holidays and the start of a new year and lack of major projects slated for launch,” he added.

This article was edited by Keshia Faculin.