{"id":6280,"date":"2016-06-20T02:32:58","date_gmt":"2016-06-19T18:32:58","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=6280"},"modified":"2022-07-01T04:02:46","modified_gmt":"2022-06-30T20:02:46","slug":"private-home-sales-10-month-high","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/private-home-sales-10-month-high\/","title":{"rendered":"May private home sales reach 10-month high"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p>New private home sales in May reached the highest level in 10 months, latest data from the Urban\u00a0Redevelopment Authority showed.<\/p>\n<p>A total of 1,056 homes were sold by developers last month, an increase of 41.2 percent from April,\u00a0that saw sales of 748 units.\u00a0May&#8217;s sales were made up of 582 homes on the city fringe, 414 units in the suburbs and 60 in the\u00a0core central region.<\/p>\n<figure id=\"attachment_6269\" aria-describedby=\"caption-attachment-6269\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-6269\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2016\/06\/STARSOFKOVAN_ARTIST.png\" alt=\"Private home sales in May was primarily driven by high demand from Stars of Kovan, one of the best selling condos\" width=\"800\" height=\"500\" \/><figcaption id=\"caption-attachment-6269\" class=\"wp-caption-text\">Private home sales in May was primarily driven by high demand from Stars of Kovan, one of the best selling condos<\/figcaption><\/figure>\n<p>According to <a href=\"http:\/\/www.straitstimes.com\/business\/property\/new-home-sales-hit-10-month-high-in-may\">The Straits Times<\/a>, this was the best performance since July 2015, where developers\u00a0managed to sell 1,655 units.<\/p>\n<p>Sales in May were boosted by two popular new launches. Gem Residences, located in Toa Payoh,\u00a0transacted 312 units at a median price of $1,431 per square foot.<\/p>\n<p>Stars of Kovan in Upper Serangoon Road sold 76 units, with a median price of $1,414 per square\u00a0foot. Existing projects that were located near MRT stations were also positively received.<\/p>\n<p>&#8220;This shows that there is sustained demand for existing projects and buyers are discerning, going\u00a0for projects which offer them the best value for their money,&#8221; said ERA Realty Network key\u00a0executive officer Eugene Lim.<\/p>\n<p>Knight Frank Singapore&#8217;s research head Alice Tan credited the rise in sales to a stabilising property\u00a0market that is in a \u201ctentative recovery mode\u201d.<\/p>\n<p>\u201cThe green shoots (of recovery) could potentially persist if interest rates remain low. Another\u00a0consideration is whether there would be a general improvement in economic growth in the second\u00a0half (of the year),\u201d she said.<\/p>\n<p>Mr Desmond Sim, CBRE&#8217;s research head for Singapore added: &#8220;This monthly sales figure is\u00a0expected to moderate as there are no foreseeable new major launches. This is a result of the\u00a0noticeable cutback on residential sites in the GLS (government land sales) programme.\u201d<\/p>\n<p>Read <a href=\"http:\/\/www.straitstimes.com\/business\/property\/new-home-sales-hit-10-month-high-in-may\">The Straits Times<\/a> for more information.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New private home sales in May reached the highest level in 10 months, latest data from the Urban\u00a0Redevelopment Authority showed. A total of 1,056 homes were sold by developers last month, an increase of 41.2 percent from April,\u00a0that saw sales of 748 units.\u00a0May&#8217;s sales were made up of 582 homes on the city fringe, 414&hellip;<\/p>\n","protected":false},"author":17,"featured_media":54324,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53601,57131],"tags":[],"persona":[],"class_list":{"2":"type-post","9":"entry","10":"has-post-thumbnail"},"acf":[],"yoast_head":"<!-- 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