The latest data for new private home released by URA shows that for the month of September, there was a 65% increase in developers' sale compared to August. Last month's transactions totalled 1,658, of which 412 (or 24.85%) were executive condominiums (ECs). In contrast, in August only 1,482 units moved with ECs forming 756, or 51.01%. The smaller proportion of ECs for September corresponds to the fewer number of new EC project launched - only one EC project (Sea Horizon) was introduced. The preceding month, however, saw two projects rolled out – Ecopolitan and Lush Acres. 335 out of the 512 units launched in Ecopolitan were sold. Better performance was achieved in Lush Acres where 311 of the 380 units were moved. In total, 72.42% of the units launched for sale in the two projects found owners. On the other hand, Sea Horizon fares somewhat less stellar. Only 317 apartments out of 495, or 64.04%, were transacted. A likely explanation is the higher number of large-scale condominium launches in September, which competed with ECs for buyers. A closer examination reveals that while in both August and September there were six condominium launches each, for August only one launch (The Tembusu) was a major development with more than 150 units. In contrast, for September four of the projects were large-scale ones. These four projects are in the list of the top five best sellers.

Table 1: Top 5 Best Sellers

Source: URA Motivated to buy a new home? At iCompareLoan we will help you compare Singapore home loan and work out your finances all for free.

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