Private home sales in the month of July for Singapore’s Core Central Region (CCR) jumped by almost 80 percent month-on-month to reach 253 units.
Data from the Urban Redevelopment Authority (URA) showed that figures were boosted by robust sales at the 510-unit V On Shenton (pictured).
Comprising of one 53-storey tower, the 99-year leasehold condo development along Shenton Way sold 144 units at a median price of S$2,061 psf last month.
Absolute prices start from just under a million dollars for a 441 sq ft city-facing studio on the 17th floor.
Buyers are believed to be mostly Singaporeans, with the rest coming from Indonesia, China and India.
Commenting on the sales trends, Tejaswi Chunduri, Regional Analyst at PropertyGuru, said: “As the market prepares for the upcoming Ghost Month, all segments have seen a jump in sales. A notable rise was recorded in the CCR which saw home sales peak at 253. In fact, July’s home sales in the CCR were the highest in the last 15 months, only after April 2011’s sales volume of 306.”
“This reinforces the fact that location is the most important factor when considering property investment. This also indicates a return in developer-investor confidence as investors are on the lookout for strategically located projects,” she added.
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