SINGAPORE: Sales of new private homes in Singapore rose about 42 per cent in September from a year earlier, as developers returned to the market with new launches following the previous month's slump.
Data compiled by the Urban Redevelopment Authority (URA) showed developers sold 932 units last month, compared with 657 units in the same month last year.
AdvertisementCompared with the 617 units sold in August, sales rose 51 per cent, URA data showed.
[h=3]READ: Rise of private home prices slows significantly as cooling measures bite[/h]September's data represents a rebound from August, when private home sales slumped 50.6 per cent following cooling measures introduced by the Government in July.
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Real estate group Huttons Asia said that the rebound in September was expected "largely due to return to normalcy after cooling measures, more launches and the end of the lunar seventh month".
In September, developers launched 1,169 units, compared with the 73 units the same month last year and 534 units in August.
Among the top-selling projects were new launches Jadescape in Shunfu Road and Mayfair Gardens in Bukit Timah, where 327 and 82 homes were sold, respectively. Those two projects accounted for almost 44 per cent of the sales volume in September, Huttons noted.
Continued demand for units at Stirling Residences in Queenstown, Park Colonial in Potong Pasir and Riverfront Residences in Hougang also contributed to September's sales volume.
Mr Lee Sze Teck, head of research at Huttons, said that he expects up to 3,500 units to be launched in the last quarter of this year.
These include mega launches such as the 1,399-unit Parc Esta at Eunos, 716-unit Whistler Grand at West Coast and 548-unit Kent Ridge Hill Residences at Pasir Panjang.
In terms of sales, developers may sell 9,000 to 10,000 units during the entire year, he added.
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