New private home sales rebound in November amid supply glut: URA data

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Last month, developers launched 740 private homes for sale, down 17 percent from 892 units in October, and a hefty 44.9 percent less than the corresponding 1,342 units in November last year. There were no ECs launched last month.

November’s take-up was led by projects coming up in the suburban areas or outside central region (OCR) which saw 608 units sold. This was followed by 351 units from projects in the city fringes or rest of central region (RCR) and 188 units from those in the prime districts or core central region.

The best-selling project was the 680-unit Sengkang Grand Residences which launched for sale last month. The 99-year leasehold condominium coming up next to Buangkok MRT Station sold 235 units of the 280 units offered at a median price of $1,741 per square foot (psf).

Source: https://www.straitstimes.com/business/property/1147-new-private-homes-sold-in-november-up-23-from-october-ura-data

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