Sales of new private homes up 37% on-month in May

Sales of uncompleted private homes climbed 37 per cent on-month in May as improving market sentiments spurred more home buyers to snap up properties.

A total of 1,668 units were sold last month, up from 1,214 in April.

Home sales in the mid-tier market picked up pace in May. The developments that sold the most units last month were Martin Place, The Wharf, The Arte and The Mezzo.

These four projects, which are in the prime districts and the city fringe areas, made up more than 30 per cent of the sales.

The median price for these developments ranged between S$903 and S$1,423 per square foot.

Sales of mid-tier and mass-market developments remained strong.

Projects that had a median price of less than S$900 per square foot made up 45.9 per cent of the total units sold.

Developers launched a total of 1,161 units in May, up seven per cent compared to April.

Source: Channel News Asia, 15 June 2009