Singapore private new home sales nearly doubles in July

1,589 new homes were sold in July, almost twice the 872 units sold in June.

According to PropNex, overall private new home sales bounced back in July 2021 compared to the previous month, despite Singapore entering the second round of Phase 2 Heightened Alert from 22 July to 18 August. Developers sold 1,589 new private homes (excluding Executive Condos) in July 2021 – almost twice the 872 units transacted in the previous month where sales volume hit a low due to the absence of new launches. 

When compared to July 2020 – new home sales last month were 46.7% more than the 1,083 units transacted then. The sales in July recorded the second highest month of sales in 2021, after January 2021 where 1,633 homes were sold. During the month of January, sales were boosted by two new launches, namely mega project Normanton Park and The Reef at Kings Dock where 622 and 210 units were sold respectively. 

Here’s more from PropNex:

New homes sales in the Outside Central Region (OCR) recorded almost two thirds of total sales with 1,012 units. The OCR sales figures was up 200.3% month-on-month from June where 337 homes in the OCR were sold. Majority of the sales in the OCR were from the Pasir Ris 8 new launch, which sold 418 units, and boosted by other previously launched OCR projects such as Midwood (91 units) and Seng Kang Grand Residences (89 units). 

In the Rest of Central Region (RCR), 438 new homes were transacted in July 2021. The RCR sold 33% more units in July compared to the previous month. Its sales were boosted by Normanton Park which sold 125 units – the project’s strongest monthly sales since its launch in January 2021. Meanwhile, in the Core Central Region (CCR), 139 new homes were sold, 32.5% less units in July compared to June. Leedon Green was the best selling CCR project in July, with 33 units transacted, at a median price of $2,559psf.

In the EC segment, developers sold 155 new units in July 2021 despite a lack of new EC launches – up by 72% from the 90 new ECs transacted in June. In July 2021, Parc Central Residences was the best-selling EC project, moving 52 units at a median price of $1,168psf.

In terms of units launched, developers placed 1,104 new private homes (ex. ECs) on the market in July – 35.5% more than the 815 units (ex. ECs) launched in the previous month. All of the units placed on the market in July were mostly from previously launched projects and one brand new project launch, namely Pasir Ris 8 with 487 units.