Singapore new private home sales dip 2.6% in June amid viewing restrictions

Singapore new private home sales dip 2.6% in June amid viewing restrictions

Hyll on Holland was the top seller last month, moving 87 units at a median price of $2,387 per square foot (psf).

SINGAPORE – Sales of new private homes eased last month despite developers launching more units as recent Covid-19 restrictions dampened viewings.

Sales by developers dropped 2.6 per cent to 872 units last month from 895 units in May. Compared with a year ago, sales were down 12.6 per cent.

Viewing restrictions clearly had an impact on transaction volume, Huttons Asia senior director of research Lee Sze Teck said.

“The proportion of sale transactions from June 15 to 30, when viewing restrictions were eased, stands at 59.8 per cent, compared with 40.2 per cent from June 1 to 14,” he noted.

The figures from the Urban Redevelopment Authority (URA) exclude executive condominium (EC) units – a public-private housing hybrid.

Including ECs sold, developers moved 962 new homes last month – 22 per cent lower than in May, and down 6.7 per cent from a year ago.

Mr Ong Teck Hui, senior director of research and consultancy at JLL, said: “With the heightened alert measures stretching into mid-June, it is not surprising that new home sales in June remained modest.”

But pent-up demand could push sales and prices higher in the third quarter, he said.

“However, due to the unpredictability of Covid-19, the market should be watchful of future restrictive measures that could slow market activity again,” he added.

Sales could improve this month as developers rush to launch their projects before the start of the Hungry Ghost festival in the following one. Upcoming launches include The Watergardens at Canberra, Pasir Ris 8 and Klimt Cairnhill.

The Watergardens at Canberra and Pasir Ris 8 are the first two mass market launches this year and could do well if priced to capture the buoyant Housing Board resale market, said Huttons Asia chief executive Mark Yip.

Developers launched 815 units last month, up nearly 58 per cent from May, and 36.5 per cent higher than a year ago.

Analysts noted the continued strong demand for homes in the prime districts.

Hyll on Holland, which offered promotions on certain units, was the top seller last month, moving 87 units at a median price of $2,387 per sq ft.

Ms Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, said many high net-worth buyers have jumped into the luxury market.

Besides Hyll on Holland, another 119 luxury homes were snapped up at other prime district projects, she said. Leedon Green moved 31 units, Fourth Avenue Residences sold 12 units and Irwell Hill Residences 11 units.

Other best-selling projects included Treasure at Tampines, Normanton Park, The Florence Residences, Avenue South Residence, Parc Clematis and Amber Park.

More Singaporeans bought homes priced between $1.5 million and $2 million last month, after cashing out their existing HDB flats, said Mr Yip.

More than 40 per cent of sales last month were priced below $1.5 million, 31 per cent were between $1.5 million and $2 million and 27 per cent above $2 million. The average price paid for a unit last month was $1.82 million, Huttons said.

Internet Explorer Channel Network
News Related


Inside cheapest Merseyside home on the market with a hot tub

The ECHO took a look inside the cheapest property on the market in Merseyside that comes with a hot tub. The three-bed detached house is on the market for £255,000, ... Read more »

99% of units launched for sale at Jervois Mansion in District 10 snapped up by buyers

The new Jervois Mansion comprises 70 one- and two-bedroom units and 60 three- to five-bedroom types spread over six blocks. SINGAPORE – Kimen Group has sold 104 of the 105 ... Read more »

The Merseyside postcodes where most people are sitting on a property goldmine

House prices across the country continue to rise with the average cost reaching a new high of £267,587. Halifax has found the average price jumped by around £4,400 in September ... Read more »

Evergrande CEO in Hong Kong for restructuring, asset sale talks, sources say

HONG KONG (REUTERS) – Evergrande Group’s chief executive is holding talks in Hong Kong with investment banks and creditors over a possible restructuring and asset sales, two people said, as ... Read more »

The luxury waterside home that used to be a jail and court and boasts its own clock tower

Some Welsh properties are so unique, steeped in history and dripping with a tangible atmosphere formed through the centuries that they take your breath away. They are instantly recognisable, landmark ... Read more »

‘Horrific for the community': confessions of a real estate agent in priced-out Byron Bay

When I started working as an agent in Byron Bay in late 2016, the median house price was sitting at around $1.1m and rapidly increasing with the spillover from the ... Read more »

Homes Under The Hammer transformation as £23k vandalised home gets stunning makeover

Homes Under The Hammer viewers were left shocked by the stunning transformation of a previously vandalised home. The three bedroom property, which is in Clydach Vale in the Welsh Valleys, ... Read more »

Entire row of cottages on Greater Manchester street up for sale for £450,000

Eight properties on a Bolton street are up for sale – and they could all be yours for £450k. The terrace of former mill cottages on Gaskell Street were originally ... Read more »

'Historic' terraced house with 'amazing' interior up for £500k

A “historic” terraced house is up for grabs for half a million pounds. The property in Waterloo is listed with Entwistle Green for £500,000 on Rightmove. The four bedroom house ... Read more »

Own eight homes in Bolton for the same price as a London apartment

© Provided by Daily Mail MailOnline logo One street in Bolton has listed eight cottages for sale all for the same price of a one-bedroom apartment in London. The properties ... Read more »

10-bed semi-detached home for sale for £750k in former wing of a country mansion

It’s not every day you find a property for sale that is actually one of Wales’ most important and historic houses, and not just your average mansion either, but one ... Read more »

Singapore new private home sales fall 31% in September as developers hold back launches

SINGAPORE – New private home sales posted a double-digit drop for a second straight month as many developers held off on new launches following a sharp rise in Covid-19 community ... Read more »

China eases mortgage for rest of year amid Evergrande contagion

BEIJING (BLOOMBERG) – China is loosening restrictions on home loans at some of its largest banks, according to people familiar with the matter, adding to signs of growing concern by ... Read more »

Covid 19 Delta outbreak: Digger driver in $7900 Auckland-Brisbane seat today

Just after midday today, an Auckland digger operator will board an Inflite Charters nine-seater jet to fly to Brisbane on a $7900 ticket his boss bought him. Stacey Anderson is ... Read more »

Abandoned home left to nature for over a decade is up for auction at bargain price

A derelict house that has been left to nature and become dilapidated after being empty for over 10 years is going up for auction at a price that should see ... Read more »

House prices: Value of homes in Kensington and Chelsea alone same as whole of Wales

© Provided by City AM Homes across Britain have added £49,257 to their value over the past five years on average, according to a property website. The total value of ... Read more »

Britons can buy 'fabulous lake house' in Lake District for less than London parking space

Buying a family home can be cheaper than a parking space in London as according to online property platform Right Move, there are some garages selling for up to £750,000 ... Read more »

You can buy a home in Italy for less than £1 - and you'll be near ski resorts

An Italian town located near a number of ski resorts is selling off homes for less than £1. The super cheap homes are located in Pratola Peligna in the Apennine ... Read more »

140 affordable homes proposed for major Dumbarton regeneration project

A multi-million-pound regeneration scheme that will see scores of affordable homes built in Dumbarton has moved a step closer. © Caledonia Housing Association has put forward ambitious plans for the ... Read more »

The Staffordshire homes that are up for grabs from just £5,000

It’s not always easy finding the right property to do up and move into – or sell on at a profit. But there are several properties that are to be ... Read more »

Condo, HDB rents edge up in September while leasing volumes dip

SINGAPORE – Rents for both Housing Board flats and private apartments rose last month compared with August, while leasing volume in both markets dipped for the fourth consecutive month, according ... Read more »

Council house waiting lists could double next year, warn town hall chiefs

Council house waiting lists could double next year – with one in 10 people trapped in the queue for more than five years, town hall leaders warn today. © PA ... Read more »

Covid exacerbates problems for Māori and their businesses: new Westpac report

Covid has exacerbated hardship for Māori whose businesses were growing but remain under-represented in our economy, Westpac NZ says. Simon Power, acting bank chief executive, today released findings of a ... Read more »

150-year-old abandoned cottage sold for £430,00 at auction

© Provided by Daily Mail MailOnline logo An abandoned cottage covered by undergrowth, smashed windows and a partly caved-in roof has sold for a whopping £430,000. The derelict property, named ... Read more »

Vital Healthcare buys A$92.75m Adelaide cancer centre, seeks $140m

Listed medical landlord Vital Healthcare Property Trust has bought a A$92.75 million Adelaide cancer centre and wants to raise $140m in New Zealand to fund that and other developments. NorthWest ... Read more »

Residential developer Winton Capital ponders NZX listing, might seek $200m-$400m

Low-profile residential developer Winton Capital is examining listing on the NZX, reviewing its financial structure and might seek up to $400 million. The business is considering the best way to ... Read more »

Waverley Park development: Look inside £10 million Shawlands development including rooftop garden

Photos and footage unveil showpiece rooftop garden overlooking Shawlands in Glasgow’s Southside. © The Waverley Park development in Shawlands, Glasgow. Buyers can now reserve one of the 34 high-end apartments ... Read more »

House of Tan Yeok Nee, Singapore's last traditional Chinese courtyard house, up for sale at $92m

SINGAPORE – House of Tan Yeok Nee, a gazetted national monument at the junction of Clemenceau Avenue and Penang Road, is up for sale again. Jointly owned by Perennial Holdings ... Read more »

Evergrande misses 3rd round of bond coupon payments, raising contagion fears

Some bondholders said they did not receive coupon payments totalling US$148 million (S$200.7 million) on Evergrande’s April 2022, April 2023 and April 2024 notes. HONG KONG (REUTERS) – China Evergrande ... Read more »

This townhouse for sale for £1.75m has solar panels on an entire wall

© Provided by This Is Money MailOnline logo Homes for sale with solar panels have become highly desirable during the energy crisis and can help reduce bills.   The panels are ... Read more »

CoreLogic analysis: Auckland the big city most vulnerable to a fall in house prices

Auckland is the big city most vulnerable to a significant fall in house prices, while Christchurch is the least, a new vulnerability index has found. The index by analysts CoreLogic ... Read more »

Condo resale prices up for 14th straight month as volume dips in September: SRX

SINGAPORE – Prices of resale non-landed private homes in September climbed for the 14th consecutive month, even as fewer units changed hands, according to flash figures from real estate portal ... Read more »

Mortgage rates could rise faster than 2008 crisis - what to do to keep costs low

Homeowners could be in line for the largest hike in mortgage costs since the 2008 property crash, experts warn. This is because the Bank of England could increase base rate ... Read more »

Dream £1million homes in Greater Manchester that will make you want to win the lottery

If you dream about what you would do if you were to win the lottery, you might well picture a beautiful new home. Maybe bedrooms that come with their own ... Read more »

Private landlords clash with student union and Scottish Government over housing problem

The Scottish Association of Landlords (SAL) has attacked the Scottish Government over ‘anti-landlord’ legislation which it says has left fewer properties available for students. © A queue of 30 prospective ... Read more »

Quotable Value: House prices surge anew as buyers vie for limited stock

From RNZ The rate of house price growth is picking up, as the number of new property listings decline during lockdown. Quotable Value’s rolling three-month average house price index to ... Read more »

Inside the Cheshire mansion with a dream kitchen that's the largest the estate agent has ever seen

A Cheshire mansion with the largest kitchen the estate agent has ‘ever seen’ has gone on the market for just under £1.4 million. The five-bedroom house on Brookledge Lane in ... Read more »

Home off private road in 'exclusive neighbourhood' with hot tub for sale

An ‘executive’ home has come on the market in Liverpool in one of the city’s most exclusive neighbourhoods. Sandringham is on a private road, in Calderstones, that has been described ... Read more »

Five-bedroom £1.4m house with its own 20-acre woodland, hot tub and games room

Ever wanted to really get away from it all and live in luxury in the middle of nowhere, while still remaining close to the hustle and bustle of everyday life? ... Read more »
On you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic