by OrangeTee & Tie Pte Ltd.

New home sales up in March, expected to stay buoyant in coming months

Monthly Developers' Sales

Singapore, 11 Apr 2022

According to analysts, developer sales climbed in March as home purchasers "come to terms" with cooling measures. As the periodic slowdown surrounding the Lunar New Year fades, so does the growth.

OrangeTee & Tie senior vice-president of research and analytics Christine Sun added that no projects exceeding 200 units were launched last month.

Normanton Park, which sold 84 units at a median price of S$1,885 psf last month, was the best-performing property among ECs in terms of sales volume. The Florence Residences and Ki Residences at Brookvale came in second and third, with 44 and 28 units, respectively.

In March, numerous buildings, including 11 Bright Hill Residences, Affinity at Serangoon, One North Eden, and View at Kismis, were sold out.

The S$1.5 million to S$2 million price range accounted for 33.2 percent of total new home sales in March, excluding ECs, the highest share based on transaction pricing. Homes in the S$2 million to S$3 million category came in second, accounting for 31.5 percent of the total volume.

According to market segments, the rest of central region (RCR) accounted for 48.8% of sales last month excluding ECs, while the outside of central region (OCR) and core central region (CCR) accounted for 27.6% and 23.5 percent, respectively.

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