Singapore, 17 Apr 2023 WHILE sales of new private residential units continued rising in March, analysts are pointing to buyers becoming wary ahead of a flood of new launches amid economic uncertainty.
Eighteen new non-landed homes were sold for at least S$5 million last month. The most expensive new unit sold was a 2,056 square foot freehold unit at Klimt Cairnhill which changed hands at S$7.6 million or S$3,697 psf. No new non-landed transactions crossed the S$10 million mark, noted Christine Sun, OrangeTee & Tie’s senior vice-president of research and analytics.
In the months to come, analysts see sales supported by several upcoming launches including Blossoms by the Park, The Continuum, and Lentor Hills Residences. Huttons’ Lee noted how Tembusu Grand, which launched earlier in April, moved 340 units or 53 per cent of the project at an average of S$2,465 psf.