Last month’s good sales were supply-led as two high-profile projects were launched. A large-sized project in Marine Parade at District 15, the 638-unit Tembusu Grand, moved 354 units or 55.5 per cent of its entire project. Another mid-sized project along Slim Barracks Rise in the Queenstown planning area, the 275-unit Blossoms by the Park, sold 205 units or 74.5 per cent of its units.
The other best-selling projects, including ECs, were The Atelier, The Landmark, Pullman Residences Newton, Leedon Green, North Gaia, Hyll on Holland, Piccadilly Grand, Midtown Modern, and The Botany at Dairy Farm.
As both key launches, Tembusu Grand and Blossoms by the Park, are in the city fringes, the bulk of last month’s transactions or 70.8 per cent of total sales, excluding ECs (628 units), came from the Rest of Central Region (RCR). This was followed by the Core Central Region (CCR) at 23.4 per cent (208 units) and the Outside of Central Region (OCR) at 5.7 per cent (51 units).
Buying trends after new cooling measures
The stellar sales at Blossoms by the Park were a surprise, as almost 75 per cent of the project was sold within its launch month despite the new cooling measures. According to URA Realis data, the sales performance at Blossoms by the Park was comparable to earlier launches in the RCR. Piccadilly Grand and Liv@MB sold 76.9 per cent and 75.2 per cent of their total units, respectively, during their launch months (Table 1).