May 2011 private home sales figure (Updated)

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Data released Wednesday by the Urban Redevelopment Authority (URA) showed that 1,575 private homes were sold last month - a 12.7% on-month drop from the 1,805 units sold in April.

Including Executive Condominiums (EC), the total sales in May would have reached an even more impressive figure of 1,825.

Chalking up the best sales was Terrasse at Terrasse Lane, which sold 184 units at a median price of $994psf.

The best selling EC was Belysa at Pasir Ris drive 1, which sold 162 units at a median price of $691psf.

The most expensive property sold in May was The Marq on Paterson Hill - a luxury property in the city centre - where a unit was sold at a median price of $5,842psf.

The lowest transacted price was at $486 per square foot for a city fringe landed property called The Hiloft.

According to analysts, private home sales fell by almost half to just under 3,800 units in the first half of this year.

Analysts said this is due to a slew of property cooling measures, with the latest and most drastic introduced in January this year.

Source: Channel News Asia

If you think the May sales number is bad, just wait till you see the June figures!


Update (from News @10 tonite):
The number of new units launched in May was down 41% to about 1,200 units, as developers anticipated new housing policies to be introduced after the General Election.

Demand in the suburban area remained the strongest , with 945 units sold. The city fringe area saw sales of 458 units, while the central region saw the least number of units sold - 172.

Analysts expect further decline in private home sales for June, at around 900 - 1,200 units.

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