Developer sales in April hit 11-month high

DEVELOPER sales of private homes, excluding ECs, surged in April to an 11-month high of 1,124 units. The 83.4 per cent increase in developer sales from 613 units in March, as well as the 47.5 per cent year-on-year improvement from 762 units in April 2014, was due to two large project launches – FCT’s North Park Residences in Yishun and UOL Group’s Botanique at Bartley. With sales of 486 units and 254 units respectively, the two projects accounted for nearly 66 per cent of April’s volume.

North Park Residences in Yishun, the 920-unit project will be part of an integrated mixed-use development, Northpoint City, coming up opposite Yishun MRT Station. Besides having retail space (that will be integrated with the group’s existing Northpoint Shopping Centre), the project will include a bus interchange. 526 of the 670 units released at North Park Residences were sold, with Singaporeans accounting for 88 per cent of buyers.

Several earlier launches achieved double-digit sales in April. These include Sims Urban Oasis, with 41 units transacted at S$1,411 psf median price, The Panorama in Ang Mo Kio Avenue 2 (39 units at S$1,229 psf median price) and Symphony Suites in Yishun Close (29 units at S$1,042 psf median price).

http://www.businesstimes.com.sg/real-estate/developer-sales-in-april-hit-11-month-high

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