New private home sales recoiled strongly as more projects were introduced prior to the June vacations. According to the developers’ sales study by the Urban Redevelopment Authority, brand-new residence sales rose 29.5 percent month-on-month (m-o-m) to 952 units in May. On a year-on-year basis, sales dipped 15.2 per cent. No executive condos (EC) were sold last month.

1,394 new personal residences were released available for sale last month. 6.0 percent of new sales remained in the core central area (CCR), 51.3 per cent in the remainder of main area (RCR) and 42.8 percent in outside the central area (OCR). New task launches consist of Brownish-yellow Park, Riviere, Parc Komo, The Gazania, The Hyde, Juniper Hillside, The Lilium, Meyerhouse as well as Olloi. The top-selling jobs for the month of May were Brownish-yellow Park with 155 units sold at a typical cost of S$ 2,475 psf, Parc Komo that relocated 79 units at a typical rate of S$ 1,497 psf as well as The Woodleigh Residences that sold 74 units at a median cost of S$ 1,823 psf.

Unflinching by the cooling steps and unclear economic outlook, the marketplace was buoyed by need for premium homes. According to URA Realis data downloaded and install today, virtually 30 percent (29.2 percent) of new home sales or 273 units were negotiated over S$ 2,000 psf. New homes transacted at this price (over S$ 2,000 psf) sky-rocketed 658 per cent from 36 units in February to 273 units in Might this year, which is provide the greatest number inked considering that December 2013 (295 units). A lot of the 273 transactions were from Amber Park, The Gazania, 3 Cuscaden, Riviere, Coastline Residences, 4th Avenue Residences, Marina One Residences, Juniper Hillside and Mayfair Modern. Of the 273 transactions, 193 units were from RCR which is a historically high number of new homes sold above S$ 2,000 psf for the market section.

In one more strong showing for the high-end section, ultra-high-net-worth investors continued to be upbeat as 48 new residences were sold for S$ 3 million as well as above, the greatest number inked since May 2018 (56 units). One more 28th floor (527 sqm) unit at Boulevard 88 was also transacted last month for S$ 28 million or S$ 4,936 psf, surpassing the previous document of S$ 4927 psf for an additional unit at the very same job inked in March this year. Nonetheless, this month saw an even greater valued 28th-floor unit (562 sqm) at Boulevard 88 being transacted for a record-smashing S$ 5,125 psf, which is the 6th most pricey condo by psf sold on document (considering that 1995). By rate quantum, this unit was transacted at S$ 31 million, which is the fifth most pricey condo sold on document (considering that 1995).