847 private homes sold in June 2010

According to the latest figures from URA, out of the 1,010 units launched, only 847 private homes were sold in the past month. This is a 21% drop from last month’s already low sales of 1,078 apartments.

April’s sales of 2,207 units were the highest so far, while total transactions for June is the lowest this year.

Was it really due to the June school holidays and the World Cup? Could it be something else?

Speculation aside, here are the most popular choices for June:
•    The Minton at Lorong Ah Soo, with 173 units sold (median price $871 psf)
•    La Brisa at Lor 28 Geylang, with 82 units sold (median price $960 psf)
•    Waterfront Gold at Bedok Reservoir, with 77 units sold (median price $996 psf)

Here are the more expensive units sold this month:
•    Nassim Park Residences, sold at $4,120 psf
•    The Ritz Carlton residences at Cairnhill Road, sold at $3,664 psf
•    Orchard View, sold at $3,548 psf
•    The Laurels, sold at $3,341 psf

The most drastic drop in sales percentage was that of the $1,000-$1,500 psf homes. Compared to May’s transactions of 736 units, June’s was only 306 units. This translates to a 58% drop in sales.

This is followed by high-end homes, which saw only 51 units sold in June, compared to May’s 109 units, which meant a 53% decease. Mass market condos with a price range of $751-$1,000 only fell by nearly 20%, with 345 units sold in June, compared to 422 sold in May. The Minton at Lorong Ah Soo still proves to be quite popular even though it did not see a sell-out crowd from the start, with 173 units sold at the median price of $871 psf.

We all know that the market has come to a slowdown in June, but what should be read is that prices are climbing but less buyers are biting. Perhaps buyers and investors are weary.

As posted in h88.com.sg by Cheryl Han