According to the latest figures from URA, out of the 1,010 units launched, only 847 private homes were sold in the past month. This is a 21% drop from last month’s already low sales of 1,078 apartments.
April’s sales of 2,207 units were the highest so far, while the total number of transactions for June is the lowest this year. Some believe that the school holidays and the world Cup had a bearing on the sales.
Despite the lower than expected sales some units that still remained popular included The Minton at Loron Ah Soo where 173 units were sold. La Brisa at Lor 28 Geylang also had a pretty busy June with 82 units sold. Another project on the East Coast, Waterfront Gold at Bedok Reservoir saw a total of 77 units snapped up.
More expensive units sold this month included Nassim Park Residences with a per square foot (PSF) price of a whopping $4120. The Ritz Carlton residences at Cairnhill Road, Orchard view and Laurels all sold units with a PSF price range of $3341 to $3664.
The most drastic drop in sales percentage was that of the $1,000-$1,500 psf homes. Compared to May’s transactions of 736 units, June’s was only 306 units. This translates to a 58% drop in sales.
This is followed by high-end homes, which saw only 51 units sold in June, compared to May’s 109 units, which meant a 53% decease. Mass market condos with a price range of $751-$1,000 only fell by nearly 20%, with 345 units sold in June, compared to 422 sold in May. The Minton at Lorong Ah Soo still proves to be quite popular even though it did not see a sell-out crowd from the start, with 173 units sold at the median price of $871 psf.
It seems that the market has come to a slowdown in June, but what should be read is that prices are climbing but less buyers are biting. Perhaps buyers and investors are becoming more weary.