Sales of recent private homes leaped 82% to at least one,780 units in March in contrast to February’s 979 units. The strong performance came on the rear of the launches of two private projects: Grandeur Park Residences and Park Place Residences at PLQ. Both projects taken into account about 40% from the sales.
“The strong purchase figures were clearly boosted through the well-received launches of Grandeur Park Residences, Park Place Residences At PLQ and iNz Residence,” states ERA Real estate Network key executive officer Eugene Lim. “Also, the slight tweak towards the cooling measures may have injected a go of optimism among buyers.”
Grandeur Park Residences was the very best seller, with 484 units offered in a median cost of $1,406 psf, adopted by Park Place Residences at PLQ, with 217 units offered in a median cost of $1,805 psf. Parc Riviera arrived third with 163 units offered in a median cost of $1,246 psf.
Within the executive condominium segment, as many as 578 units were offered in March, 76% greater compared to 329 units offered in Feb. Qingjian Real estate offered 187 units offered at iNz Residence, the very first EC project launched this season, in a median cost of $774 psf. It was adopted by Sol Acres, which saw 147 units offered in a median cost of $794 psf and also the Visionaire with 43 units offered in a median cost of $811 psf.
Christine Li, director of research at Cushman & Wakefield, expects sales momentum to keep relatively strong within the 1,000 range because of the expected launches of Seaside Residences, Alexandra View, Bukit Batok West Avenue 6, Martin Place and Fernvale Road. The entire year new house sales is believed to vary from 8,000 to 10,000 in lack of a fiscal recession.