Remembering Lee Kuan Yew - Thank you - The nation with you in your final journey - See u in heaven

Remembering Lee Kuan Yew - Thank you - The nation with you in your final journey - See u in heaven
Presented to you by Property Smart Investor- A Real Estate Online Education and Discussion

Tuesday 18 August 2015

New private home sales surge in July, thanks to Fernvale project

New private home sales surge in July, thanks to Fernvale project
New private home sales surge in July, thanks to Fernvale project
New private home sales spiked last month owing to a strong showing 
at one condo launch, but sales numbers are likely to be muted over 
the next few months.

Developers sold 1,594 new private homes in July, more than four times the 375 homes sold in June.
These were the highest sales posted since June 2013, when 1,806 new private homes were sold.
July's new launch, High Park Residences in Fernvale Road, was the star performer. It sold 1,169 units at a median price of $989 per sq ft.
Mr Desmond Sim, CBRE research head for Singapore and South-east Asia, noted that the project has ridden on "quantum play", where small-sized units have made individual unit prices palatable.
Most of the units sold are less than a million dollars each, with about 15 per cent under $500,000.
The cheapest unit sold so far is a sixth-floor, 388 sq ft unit which went for $373,450 last month.
Two-bedders at the project are about 570 sq ft to 732 sq ft while three-bedders are about 872 sq ft to 990 sq ft.
Advertising firm owner Ken Low bought a two-bedroom deluxe unit for about $650,000 as an investment. "The project is attractively priced and also ties in with plans for the upcoming regional centre in Seletar," he said.
Other projects that sold well were Botanique at Bartley, which moved 63 units at a median price of $1,282 psf; City Gate, which sold 26 units at a median of $1,813 psf; and Riverbank@Fernvale, with 25 units sold at a median of $959 psf - lower than median prices of around $1,000 psf seen in earlier months.

Mr Eugene Lim, ERA Realty key executive officer, said that while prices have been tweaked selectively, increased sales are largely due to marketing efforts to clear stock - with promotion periods and star-buy units, for example.
Some buyers may have returned to the market after the June school holidays, or sped up their decision-making to avoid buying during the Hungry Ghost month, which started last Friday, said PropNex Realty chief executive Mohd Ismail.
Excluding High Park Residences, developer sales were about 425 from previously launched projects - in line with underlying demand seen in earlier months of about 300 to 500, said CBRE's Mr Sim.
Most expect the new sales market to be quieter over the next few 
months. But the executive condominium (EC) market should 
be active, especially once the Government confirms an upward 
revision of the income ceiling for EC buyers, said Mr Lim.

Expected launches include Sol Acres EC in Choa Chu Kang with 
1,327 units, and Signature At Yishun EC with 525 units.Including 
ECs, 2,089 homes were moved last month, from 485 in June.
The Straits  Times /Business                                                 Published on Tuesday, 18 August 2015 By Rennie Whang                                                                                                                                     New private home sales surge in July, thanks to Fernvale project
Please click the following for other Related Readings:

 National Day Rally 2015: Income ceilings up for buyers of New HDB flats, ECs; grants increased

New proximity grant for non-first-time buyers too

Pioneer estate now a ghost town

Mortgagee sales of larger home on the rise

2-Rm Flexi scheme: 40% of flats set aside for seniors; studio apartment lease can be extended

Seniors buying Flexi flats can choose fittings too

More flexible HDB flat options for elderly buyers
New private home sales surge in July, thanks to Fernvale project

Parliament: More than 8 in 10 hawkers pay less than $1.5k to rent stall each month

Jump in number of M'sian and Chinese buyers of S'pore properties in Q2: DTZ

Buyers snap up Brownstone penthouses

Foreigners grab 5 floors of Prudential Tower

Lien's grandson pays $21m for Good Class Bungalow

Quality scores of new HDB flats 'rising'

New HDB scheme: Call to let studio flat owners extend lease

It's a shore thing for these owners of seaside homes

Choa Chu Kang EC site attracts surprise 11 bids

Private property market 'stabilising'

Quality of life has a price, says Moshe Safdie

Cache Logistics Trust sells Kim Seng warehouse to JTC for $9.7m

Bumper crop of shoebox units to come in 2017

'Rare' industrial site up for sale





Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)