Monday, March 15, 2010

Private home sales in February hit 1,196

According to the latest property data released by URA, February 2010 sales of new condos (or private non-landed homes) reached 1,196, slightly short of the 1,476 seen in January. Though that figure is lower, let's not forget that last month had fewer days as well as the long Lunar New Year break.

Seems that the buying fervour hasn't been tempered by the cooling measures put in by the Govt. We've done some maths, come in and take a look.

If we divide the total sales by the number of days, we'd get 42.71 sales per day in February. For January, it works out to 47.61, or around 5 more units sold per day.

Take away 3 days in February to account for Chinese New Year however, and the figure rises to 47.84. That's roughly the same rate as January. So going by these numbers, perhaps the fever hasn't subsided as much as the Govt wants.

Developers also launched 1,161 units in February, compared to 1,424 units in January.

Notably these developments have also managed to secure some interesting prices:

Seven Palms at Sentosa Cove - $3318psf
Ritz Carlton Residences - $3762psf
The Orchard Residences - $3587psf
The Laurels - $2970psf
Nassim Park Residences - $3460psf
Jardin - $1903psf
Altez - $2397psf
The Estuary - $921psf

The Estuary in Yishun walks away with the crown in February, with 386 units sold (32% of all February sales). The Altez takes runners up with 150 units sold. But what is interesting is how we are seeing more developments being sold above $3000psf in February - there was only one in January (Orchard View).

As posted in h88.com.sg by John

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