Take-up rates for new private homes more than halved for the first five months of this year compared to the same period last year. The total sale figures for January to May 2014 stands at 4,006 units, a far cry from the 8,376 units over the same period in 2013. The cumulative unsold units on a monthly basis were also relatively higher this year, despite the fact that there were substantially fewer new project launches.
Table 1: Monthly Developer’s Sales, Jan – May 2013 & 2014
Total Units (Excluding ECs) Sold in the Month |
Cumulative Units Launched but Unsold |
Total Units (Excluding ECs) Sold in the Month |
Cumulative Units Launched but Unsold |
||
Jan-14 |
572 |
6,733 |
Jan-13 |
2,028 |
5,239 |
Feb-14 |
739 |
6,674 |
Feb-13 |
712 |
4,862 |
Mar-14 |
480 |
6,948 |
Mar-13 |
2,793 |
5,550 |
Apr-14 |
745 |
6,754 |
Apr-13 |
1,384 |
5,439 |
May-14 |
1,470 |
7,266 |
May-13 |
1,459 |
5,522 |
Total |
4,006 |
Total |
8,376 |
Source: URA
Table 2: Monthly Developer’s Sales (Including ECs), Jan – May 2013 & 2014
-
Jan-14
620
Jan-13
2,284
Feb-14
787
Feb-13
921
Mar-14
535
Mar-13
3,072
Apr-14
793
Apr-13
1,556
May-14
1,528
May-13
1,916
Total
4,263
Total
9,749
Source: URA
New project launches were markedly fewer, particularly in the CCR and RCR, otherwise known as city and city fringe, respectively. Among the three regions, new projects in the suburb, or those in the OCR, declined the less. It fell from 20 new projects in 2013 to 12 over the same period this year.
Table 3: Monthly New Project Launches
Jan-14 |
3 |
Jan-13 |
8 |
Feb-14 |
3 |
Feb-13 |
1 |
Mar-14 |
2 |
Mar-13 |
17 |
Apr-14 |
2 |
Apr-13 |
12 |
May-14 |
7 |
May-13 |
13 |
Total |
17 |
Total |
51 |
Source: URA
Table 4: New Project Launches, Jan – May 2013 & 2014, by Region
Jan- May 2014 |
Jan – May 2013 |
|||||
Region |
No. of New Project Launches |
Median Price ($psf) of New Project Launches |
Price Range ($psf) of New Project Launches |
No. of New Project Launches |
Median Price ($psf) of New Project Launches |
Price Range ($psf) of New Project Launches |
CCR |
1 |
2,452.0 |
2312 – 2507 |
13 |
2,302.5 |
1276 – 3336 |
OCR |
12 |
1,287.5 |
682 – 1593 |
20 |
1,371.5 |
665 – 1843 |
RCR |
4 |
1,291.0 |
972 – 2546 |
18 |
1,494.5 |
1031 – 2650 |
Source: URA
For the period of January to May 2014, sale figures were still brisk for the suburban homes, with seven out of the 12 new project launches having 50 per cent and above sales in their respective launch month. By comparison, the new launches in the city and city fringe fared dismally. The only launch in the city – The Rise @ Oxley Residences – had only about 6.7 per cent of the released units taken up. On the city fringe, of the four new projects only The Hillford posted a sale number exceeding 50 per cent. In fact, all of its released units were sold out on the first day of sales, most likely due to its novelty as the first retirement resort in Singapore.
Table 5: New Project Launches, Jan – May 2014
Project Name | Street | Region | Property Type | Launch Month | Units Released In Launch Month | Units Sold In Launch Month | % Sold | Median Price ($psf) in the Launch Month | Price Range ($psf) in the Launch Month |
The Rise @ Oxley Residences |
Oxley Rise |
CCR |
Non-Landed |
May-14 |
120 |
8 |
6.7 |
2,452 |
2312 – 2507 |
Floraview |
Ang Mo Kio |
OCR |
Non-Landed |
Jan-14 |
90 |
1 |
1.1 |
1,396 |
1396 – 1396 |
Singa Hills |
Jalan Singa |
OCR |
Non-Landed |
May-14 |
58 |
2 |
3.4 |
1,210 |
1101 – 1319 |
Sunnyvale Residences |
Lorong K |
OCR |
Non-Landed |
May-14 |
10 |
1 |
10 |
1,487 |
1487 – 1487 |
The Santorini |
Tampines |
OCR |
Non-Landed |
Mar-14 |
597 |
76 |
12.7 |
1,108 |
1022 – 1274 |
The Panorama |
Ang Mo Kio |
OCR |
Non-Landed |
Jan-14 |
120 |
58 |
48.3 |
1,343 |
1234 – 1591 |
Waterfront@Faber |
Faber Walk |
OCR |
Non-Landed |
May-14 |
147 |
81 |
55.1 |
1,257 |
853 – 1351 |
Prestige Point |
Upper Paya Lebar |
OCR |
Non-Landed |
Feb-14 |
15 |
9 |
60 |
1,338 |
1000 – 1593 |
Rivertrees Residences |
Fernvale Close |
OCR |
Non-Landed |
Feb-14 |
300 |
218 |
72.7 |
1,111 |
943 – 1276 |
Riverbank @ Fernvale |
Fernvale Close |
OCR |
Non-Landed |
Feb-14 |
250 |
211 |
84.4 |
1,033 |
837 – 1250 |
Lakeville |
Jurong Lake |
OCR |
Non-Landed |
Apr-14 |
230 |
210 |
91.3 |
1,318 |
1143 – 1505 |
Coco Palms |
Pasir Ris |
OCR |
Non-Landed |
May-14 |
600 |
590 |
98.3 |
1,018 |
682 – 1251 |
The Sorrento |
West Coast |
OCR |
Non-Landed |
Apr-14 |
131 |
131 |
100 |
1,414 |
1115 – 1513 |
Balestier |
RCR |
Non-Landed |
Mar-14 |
28 |
0 |
0 |
NA |
NA |
|
Loft 33 |
Lorong 32 |
RCR |
Non-Landed |
May-14 |
30 |
12 |
40 |
1,291 |
1078 – 1307 |
Kallang Riverside |
Kampong |
RCR |
Non-Landed |
May-14 |
212 |
96 |
45.3 |
2,111 |
1921 – 2546 |
The Hillford |
Jalan Jurong Kechil |
RCR |
Non-Landed |
Jan-14 |
281 |
281 |
100 |
1,105 |
972 – 1437 |
Source: URA
Table 6: New Project Launches, Jan – May 2013
Project Name |
Street |
Region |
Property Type |
Launch Month |
Units Released In Launch Month |
Units Sold In Launch Month |
% Sold |
Median Price ($psf) in the Launch Month |
Price Range ($psf) in the Launch Month |
One Balmoral |
Balmoral |
CCR |
Non-Landed |
Mar-13 |
20 |
0 |
0 |
NA |
NA |
Treasure On Balmoral |
Balmoral |
CCR |
Non-Landed |
Jan-13 |
12 |
1 |
8.3 |
2408 |
2408 – 2408 |
Palms @ Sixth Avenue |
Sixth Avenue |
CCR |
Non-Landed |
Mar-13 |
10 |
1 |
10 |
1276 |
1276 – 1276 |
Grove Residence |
Grove Drive |
CCR |
Non-Landed |
Mar-13 |
6 |
1 |
16.7 |
2462 |
2462 – 2462 |
Ferra |
Leonie Hill |
CCR |
Non-Landed |
Apr-13 |
33 |
6 |
18.2 |
3209 |
3034 – 3336 |
Hallmark Residences |
Ewe Boon |
CCR |
Non-Landed |
May-13 |
20 |
4 |
20 |
2130 |
1538 – 2302 |
Mon Jervois |
Jervois Road |
CCR |
Non-Landed |
Apr-13 |
22 |
5 |
22.7 |
2049 |
1680 – 2195 |
The Siena |
Tan Kim |
CCR |
Non-Landed |
May-13 |
29 |
7 |
24.1 |
2297 |
2110 – 2467 |
Robin Suites |
Robin Road |
CCR |
Non-Landed |
Jan-13 |
92 |
26 |
28.3 |
2530 |
2401 – 2715 |
Liv On Sophia |
Adis Road |
CCR |
Non-Landed |
May-13 |
32 |
23 |
71.9 |
2492 |
2265 – 2552 |
Oxley Edge |
River Valley |
CCR |
Non-Landed |
Mar-13 |
45 |
36 |
80 |
2002 |
1889 – 2283 |
Novena Regency |
Thomson |
CCR |
Non-Landed |
Mar-13 |
1 |
1 |
100 |
2308 |
2308 – 2308 |
Lloyd Sixtyfive |
Lloyd Road |
CCR |
Non-Landed |
Apr-13 |
9 |
9 |
100 |
2150 |
1571 – 2150 |
Ocean Front Suites |
Jalan Loyang |
OCR |
Non-Landed |
Mar-13 |
58 |
3 |
5.2 |
1559 |
1552 – 1574 |
Kingsford Hillview Peak |
Hillview Rise |
OCR |
Non-Landed |
Mar-13 |
512 |
41 |
8 |
1351 |
1085 – 1460 |
Serenity Breeze |
Lorong J |
OCR |
Non-Landed |
Jan-13 |
12 |
1 |
8.3 |
1350 |
1350 – 1350 |
Charlton 27 |
Surin Avenue |
OCR |
Non-Landed |
Apr-13 |
27 |
3 |
11.1 |
738 |
678 – 796 |
E Maison |
Braddell Road |
OCR |
Non-Landed |
Apr-13 |
130 |
19 |
14.6 |
1471 |
1352 – 1517 |
Garden Park Residences |
Lorong M |
OCR |
Non-Landed |
Apr-13 |
36 |
8 |
22.2 |
1515 |
1405 – 1599 |
Cambio Suites |
Lim Tua Tow |
OCR |
Non-Landed |
May-13 |
53 |
15 |
28.3 |
1392 |
1122 – 1632 |
R Maison |
Sommerville |
OCR |
Non-Landed |
Mar-13 |
45 |
13 |
28.9 |
1435 |
1348 – 1537 |
Midtown Residences |
Upper |
OCR |
Non-Landed |
Apr-13 |
160 |
51 |
31.9 |
1479 |
1220 – 1660 |
Newest |
West Coast |
OCR |
Non-Landed |
May-13 |
136 |
68 |
50 |
1488 |
900 – 1684 |
The Trilinq |
Jalan |
OCR |
Non-Landed |
Mar-13 |
200 |
106 |
53 |
1513 |
1193 – 1843 |
Stratum |
Elias Road |
OCR |
Non-Landed |
May-13 |
380 |
269 |
70.8 |
925 |
755 – 1282 |
Q Bay Residences |
Tampines |
OCR |
Non-Landed |
Jan-13 |
520 |
372 |
71.5 |
1012 |
823 – 1277 |
Twin Fountains |
Woodlands |
OCR |
Non-Landed |
May-13 |
418 |
316 |
75.6 |
741 |
665 – 813 |
Hillion Residences |
Jelebu Road |
OCR |
Non-Landed |
Mar-13 |
250 |
191 |
76.4 |
1340 |
1225 – 1698 |
Jade Residences |
Lew Lian Vale |
OCR |
Non-Landed |
Apr-13 |
100 |
79 |
79 |
1592 |
1374 – 1693 |
La Fiesta |
Sengkang |
OCR |
Non-Landed |
Jan-13 |
500 |
404 |
80.8 |
1163 |
956 – 1359 |
Urban Vista |
Tanah Merah |
OCR |
Non-Landed |
Mar-13 |
420 |
348 |
82.9 |
1503 |
1193 – 1692 |
D’nest |
Pasir Ris |
OCR |
Non-Landed |
Mar-13 |
800 |
699 |
87.4 |
963 |
737 – 1299 |
Spazio@Kovan |
Upper |
OCR |
Non-Landed |
Apr-13 |
48 |
48 |
100 |
1299 |
821 – 1453 |
# 1 Suites |
Lorong 20 |
RCR |
Non-Landed |
May-13 |
112 |
1 |
0.9 |
1462 |
1462 – 1462 |
One Eighties Residences |
Joo Chiat |
RCR |
Non-Landed |
May-13 |
52 |
1 |
1.9 |
1374 |
1374 – 1374 |
# 1 Loft |
Lorong 24 |
RCR |
Non-Landed |
Jan-13 |
80 |
3 |
3.8 |
1315 |
1309 – 1315 |
Cosmo Loft |
Balestier |
RCR |
Non-Landed |
May-13 |
56 |
4 |
7.1 |
1773 |
1746 – 1898 |
Pavilion Square |
Geylang Road |
RCR |
Non-Landed |
Mar-13 |
42 |
11 |
26.2 |
1532 |
1406 – 1592 |
Treasures @G20 |
Lorong 20 |
RCR |
Non-Landed |
Mar-13 |
38 |
12 |
31.6 |
1151 |
1127 – 1291 |
Riverbay |
Mar Thoma |
RCR |
Non-Landed |
Apr-13 |
63 |
26 |
41.3 |
1342 |
1260 – 1430 |
Leville Isuites |
Ceylon Road |
RCR |
Non-Landed |
Feb-13 |
42 |
24 |
57.1 |
1495 |
1072 – 1727 |
Sant Ritz |
Pheng Geck |
RCR |
Non-Landed |
Apr-13 |
176 |
104 |
59.1 |
1494 |
1166 – 1634 |
Bartley Ridge |
Mount Vernon |
RCR |
Non-Landed |
Mar-13 |
617 |
367 |
59.5 |
1296 |
1031 – 1514 |
Sennett Residence |
Pheng Geck |
RCR |
Non-Landed |
Mar-13 |
332 |
238 |
71.7 |
1474 |
1290 – 1730 |
Kap Residences |
King Albert |
RCR |
Non-Landed |
May-13 |
142 |
105 |
73.9 |
1839 |
1264 – 1988 |
Seasuites |
Pasir Panjang |
RCR |
Non-Landed |
Jan-13 |
52 |
42 |
80.8 |
1665 |
1502 – 1784 |
Whitehaven |
Pasir Panjang |
RCR |
Non-Landed |
May-13 |
100 |
82 |
82 |
1609 |
1285 – 1757 |
Corals At Keppel Bay |
Keppel Bay |
RCR |
Non-Landed |
May-13 |
160 |
132 |
82.5 |
2150 |
1770 – 2957 |
Spottiswoode Suites |
Spottiswoode |
RCR |
Non-Landed |
Jan-13 |
100 |
91 |
91 |
2227 |
1665 – 2650 |
Icon @ Pasir Panjang |
Pasir Panjang |
RCR |
Non-Landed |
Mar-13 |
9 |
9 |
100 |
1754 |
1599 – 1807 |
The Octet |
Lorong 24 |
RCR |
Non-Landed |
Apr-13 |
5 |
5 |
100 |
1324 |
1293 – 1359 |
Source: URA
Developers probably anticipated the subdued demand for homes in the CCR and RCR, and put off new launches there.
In the area of prices, median price ($ psf) for new projects in the suburbs, between January to May, dipped by about 6.1 per cent from $1,371.5 psf (2013) to $1,287.5 psf (2014). However the minimum price had soared from $665 psf to $682 psf, while the maximum price slided to $1,593 psf.
More severe price decline was seen in the RCR. There, median prices for new launches slipped by
13.6 per cent relative to the same period in 2013. Minimum and maximum prices, likewise, experienced a downdraft.
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