Developer sales in April has
hit a 11-high of 1,124 units (excluding ECs). This is a 83.4% increase from
the 613 units in March and a 47.5% year-on-year improvement from the 762 units
in April 2014.
Below are some underlying
facts:
1. The strong rebound in April
sales is primarily due to the launch of two large projects - Frasers
Centrepoint's North Park Residences in Yishun and UOL Group's Bontanique
at Bartley. The two projects accounted for close to 66% of the total
volume sold last month.
2. The sales number is
expected to ease dramatically in May, as no major launched are expected. The
near-doubling month on month in the number of private residential units that
developers sold came amid a more-than-trebling in the number of units launched
- 1,344 in April up from 400 in March. There has been a set pattern for
supply-led demand in the Singapore
3. Buyers are drawn to the two
large projects in view of their attributes (proximity to MRT stations) and more importantly, reasonable pricing. 73% of the sales at North
Point Residences and 84% of units sold at Botanique at Bartley were
for units below $1.2 million.
4. North Park Residences performed
better than Botanique at Bartley despite the former's higher median price -
A total of 486 units (52.8% of total) of the former was sold at a median price
of $1,374psf versus 254 units (31.9% of total) of the later at a median price
of $1,290psf. This was attributed to the fact that residential projects that
offer proximity to both MRT stations and malls still attract more buyers than
those near MRT stations but without any nearby retail amenities.
5. Frasers Centrepoint said
on Friday that to date, it has sold 526 of the 670 units released at North
Point Residences, with Singaporeans accounting for 88% of buyers. About
two in three buyers are current HDB dwellers. Another 20% have private
non-landed addresses and 14% have a private landed address. Only a small number
have foreign addresses. Two-thirds of units sold in the 920-unit project are
two-bedders or smaller.
Including executive
condominiums (ECs), developers moved 1,218 units last month, higher than the 692
units in March this year and 810 units in April last year.
Info sources: BT/ST
So here's to those who are about to take out the bubbly and celebrate the return of confidence
in the private home market...
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