Singapore, 15 Jun 2022 New private home sales reached a six-month high as a result of two significant city peripheral launches, Piccadilly Grand and Liv@MB, as buyers adjusted to the most recent wave of property cooling measures in the face of a limited supply. According to Urban Redevelopment Authority figures issued on Wednesday, buyers purchased 1,356 homes in May, more than double the 660 units they purchased in April and 51.5% more than they did a year earlier (June 15).
Analysts note that year-to-date overall sales, excluding executive condos (ECs), are down 32% to 3,841 units from the same period last year.Sales of new homes, including ECs, increased by 62.6% to 1,376 units in May from 846 in April.
Developers launched 1,240 new residences last month, compared to just 397 in April. The number of new units launched increased by 140% from 516 units a year earlier. The number of new units launched in May, including ECs, increased by 22% from April.
In May, the city fringe accounted for the bulk of new home sales at 65.9 per cent, or 893 units, driven by Liv@MB and Piccadilly Grand, said OrangeTee & Tie senior vice-president of research and analytics Christine Sun. This was followed by the suburbs at 18.2 per cent, or 247 units, and the prime district at 15.9 per cent, or 216 units.