Business

New private home sales rebound strongly in November

New private home sales rebounded strongly last month from a year earlier, with developers launching as many as seven projects amid rising economic headwinds.

Signalling healthy demand, some 1,198 units were sold, out of 1,341 units launched.

Last month's sales were the highest since the July 6 cooling measures. The 1,198 units sold represented a 52 per cent jump from the 788 units sold a year earlier, and were up 146 per cent from the 487 units booked in October.

The figures were released yesterday by the Urban Redevelopment Authority, based on its survey of licensed housing developers. The above figures exclude executive condominium units, a public-private housing hybrid.

The seven new launches - 3 Cuscaden, Arena Residences, Belgravia Green, Kent Ridge Hill Residences, The Woodleigh Residences, Parc Esta and Whistler Grand - accounted for 830 units, or 69 per cent, of new private home sales last month.

City-fringe projects including Parc Esta and Whistler Grand were among the top sellers last month.

"Buyers were likely enticed by their affordable quantum," said Mr Desmond Sim, CBRE's head of research for Singapore and South-east Asia.

Located next to Eunos MRT station and near the Paya Lebar Quarter mixed-use development, Parc Esta sold 348 units at a median price of $1,699 per sq ft (psf).

Whistler Grand moved 219 units at a median price of $1,352 psf. - THE STRAITS TIMES

Property