SINGAPORE: Sales of new private homes were down 45% in May 2015 over the previous month, largely due to the lack of new projects being launched.
Developers sold 638 private homes in May, according to numbers revealed by the Urban Authority of Singapore (URA) on Monday.
No new project was launched in the month, with the exception of Westwood Residences, an executive condo (EC) in Jurong West.
EC are excluded from the private homes’ figures. Including ECs, developers sold a total of 845 units in May.
Westwood Residences booked the most number of sales in May, at 118 units. The median price for the units was at $803 per sq ft (psf).
Also doing well are Botanique at Bartley and North Park Residences at Yishun, both of which were launched in April 2015.
94 units at Botanique were picked up at a median price of $1,292 psf, where 59 units at North Park Residences were sold at $1,397 psf.
Most of the new homes sold were in the suburbs, which account for more than 70% of new private homes sold in May.