Developers sold 805 units in August including executive condominiums, 58.1% lower than July’s 1,921 units. On a y-o-y basis, sales are down by 17.8% from 979 units in August last year. There was no new private non-landed project launched last month.

Ong Teck Hui, national director of research and consultancy at JLL says, “The subdued sales by developers in August is partly due to the absence of new projects being launched and is not a clear indicator of where the market is heading."

"The resale market on the other hand shows that buyers were no less active in August which recorded 762 caveats compared to the 752 in July, " notes Ong. "This shows that buyers are still fairly positive about the residential market following the improvement in sentiments since March this year."

MCL Land’s Lake Grande remains as the best-selling project last month with 35 units sold at a median price of $1,317 psf. This is followed closely by The Trilinq (30 units at a median price of $1,413 psf) and The Glades (22 units at a median price of $1,415 psf).

In the EC segment, sales dropped 60% from 830 units sold in July to 332 units in August. Sim Lian’s Treasure Crest continues to top the sales chart with 56 units sold at a median price of $745 psf. Sol Acres trailed with 46 units sold at a median price of $781 psf, followed by Bellewoods with 37 units sold at a median price of $769 psf.

Best-selling private projects in August 2016

Source: URA, The Edge Property

Best-selling EC projects in August 2016

Source: URA, The Edge Property