The number of private homes sold in October fell 15 percent month-on-month to 1,387 units. Including executive condos (ECs), the volume of sales reached 1,638 units, down from 2,064 in September.
The bulk of the sales came from the Outside Central Region (OCR) — 1,144 units were sold last month, with four projects selling over 100 units each.
Located along Hougang Avenue 7, Parc Vera sold 144 units of the 190 launched, at an average price of S$840 psf.
Meanwhile, home buyers snapped up all the 121 Este Villa units in Seletar Hills estate – launched in October at a median price of S$614 psf, indicating robust demand for landed properties despite the economic uncertainty.
A Treasure Trove at Punggol Central saw 103 units sold at an average price of S$914 psf, while Arc@Tampines, an EC, sold 149 units in October at a median price of S$729 psf.
417 units were sold in the Rest of Central Region (RCR), while 77 units were sold in the Core Central Region (CCR).
“Sales in October were mainly dominated by activity in the mass market with HDB upgraders looking for a good deal,” said Tejaswi Chunduri, real estate analyst at PropertyGuru.
“Going forward, the rest of the year is expected to be quiet as the holiday season gathers momentum and home buyers remain cautious as the gloomy economic situation affects buying sentiment. Nevertheless, the low interest rate environment and new project launches by developers will keep the market moving.”
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