There was a total of 2,086 private homes sold in July, a 51% increase from the previous month when 1,064 units were sold. These figures include Executive Condominiums (EC) and there were 978 EC units transacted in July, compared to only 244 in June. The number of private residential homes moved went up by 35% in July coming in from the previous month as 1,108 units were sold.
This surge in sales figures is due largely to the increase in the number of new private home projects launched in July as there were 1,223 units (692 private condominiums and 531 EC units) placed on the market compared to the mere 159 units launched in June. Close to half of the total number of private homes sold were EC units and both previously unsold projects as well as newly launched developments saw strong sales. For instance, Hundred Palms Residences in Hougang made the news when all 531 units were snapped up on its launch day and previously unsold EC developments like Parc Life in Sembawang and Visionaire in Canberra Drive moved 63 and 65 units respectively.
With regards to sales figures for new private home developments, Martin Modern, which is located in the prime District 9 in Robertson Quay, sold 109 of its total 210 units available for sale. The Santorini in Tampines in the East of Singapore shifted 82 units while in the North, Symphony Suites in Yishun saw 73 units transacted.
The total number of private homes transacted in 2017 so far has been optimistic as compared to the previous year. From January to July 2017, there have been 7,147 private homes and 3,004 EC units sold and this is a 50% and 11.5% increase respectively from January to July 2016.
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While the number of new launch private homes sold in July has doubled as compared to June, the prices of resale private property has seen a drop in July. Read more about that: Private Home Resale Prices Drop in July