Signs of recovery in new sales?

According to the recent transactions in May, the sales of new private homes has reached a 10-month high. 1058 new homes were sold in May compared to 748 in April. The last highest transaction was in July last year– 1655 units.
This trend is partly attributed by 2 new launches –Gem Residences in Toa Payoh and Stars of Koran in Upper Serangoon Road. The projects sold 312 ($1431psf median) and 76 ($1414 psf median) respectively. Other projects that received brisk sales include Poiz Residences  (47 units), Sturdee Residences (36 units) and Botanique at Bartley (36 units).

Of the transactions made last month more than 50% is on the city fringe at 582 units. About 414 units in the suburbs and 60 in core central region were sold as well.

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