Two of the 5 best selling projects for June 2016 were executive condominiums. Bellewaters EC at Anchorvale Crescent sold 43 units in June, while The Vales EC, also located at the same area moved 28 units in June.
Property developers sold 536 private residential units, excluding executive condominiums (ECs) last month, down 50 percent from the 1,065 units sold in May, revealed latest data from the Urban Redevelopment Authority (URA). Including ECs, there were 768 units sold.
There were three reasons for the drop in sales, namely selective buying sentiments, seasonal effects of the June school holidays and no new major launches, said PropNex Realty.
Only 234 new private units were launched in June, down 80 percent from May. Meanwhile, no new ECs were launched in the month.
Mohamed Ismail, CEO of PropNex, said: “The upcoming launches of Lake Grande and Gramercy Park will help to boost volume as developers look to step up their launch activities before the Hungry Ghost Festival hits in August.”
Meanwhile, the five top-selling projects were Bellewaters EC, Kingsford Waterbay, The Glades, Kingsford Hillview Peak and The Vales EC.
1. Bellewaters EC (OCR)
Developer: Qingjian Realty
Tenure: 99-year leasehold
Location: Anchorvale Crescent (D19)
Nearest MRT station: Sengkang MRT
Median price: $804 psf
Total no. of units: 651
Sales update: 43 units sold in June
2. Kingsford Waterbay (OCR)
Developer: Kingsford Development
Tenure: 99-year leasehold
Location: Upper Serangoon View (D19)
Nearest MRT station: Hougang MRT
Median price: $1,185 psf
Total no. of units: 1,165
Sales update: 34 units sold in June
3. The Glades (OCR)
Developer: Keppel Land and China Vanke
Tenure: 99-year leasehold
Location: Bedok Rise (D16)
Nearest MRT station: Tanah Merah MRT
Median price: $1,402 psf
Total no. of units: 726
Sales update: 32 units sold in June
4. Kingsford Hillview Peak (OCR)
Developer: Kingsford Development
Tenure: 99-year leasehold
Location: Hillview Avenue
Nearest MRT station: Hillview MRT
Median price: $1,315 psf
Total no. of units: 512
Sales update: 31 units sold in June
5. The Vales EC (OCR)
Developer: SingHaiyi Group and Kay Lim Investment
Tenure: 99-year leasehold
Location: Sengkang (D19)
Nearest MRT station: Sengkang MRT
Median price: $779 psf
Total no. of units: 517
Sales update: 28 units sold in June