Private home sales rise 13 percent in November
Dec 15, 2011 - PropertyGuru.com.sg
BREAKING NEWS - Despite fears that Singapore's property market could slide after the government launched a harsh round of cooling measures last week, data from the Urban Redevelopment Authority (URA) shows that the market is still very robust.
In November, the total number of private housing units transacted climbed to 1,854, a 13 percent rise from 1,638 in October.
Excluding executive condominiums (ECs), the sales volume reached 1,701, a 23 percent climb from October.
According to Tejaswi Chunduri, real estate analyst at PropertyGuru, "The hike in total sales volume can be attributed to a huge 48 percent rise in the number of new launches by developers last month".
Chunduri added that the total number of new units launched reached a healthy 1,979, compared to 1,338 in October. This could indicate a trend among developers rushing to launch new projects before any uncertainty hits the market as a result of the new measures and current economic conditions.
The costliest unit sold for the month came from The Marq On Paterson Hill, at a whopping price of S$6,841 psf. Meanwhile, 11 high-end units at Scotts Square, located along Scotts Road, were sold at a median price of S$4,333 psf.
In total, 77 units were sold at a median price of above S$2,000 psf, of which 44 transacted at a median price of above S$3,000 psf.