Home sales in the OCR plunged 59.9% in April

Only 727 units were sold.

According to Colliers International, launch volume in the Outer Central Region (OCR) fell sharply as developers released only 763 units. This translated to a 67.5% fall from the record high launch volume of 2,350 units in March. As a result, home-buying in the OCR fell 59.9% as homebuyers took up 727 units in April.

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The dearth in new releases, particularly major project launches saw the market share of launch and sales in the OCR falling from 67.4% and 64.9% in March 2013 to 65.9% and 52.9%, respectively in April.

Mainly mid- to small- scale projects were debuted in the OCR. These include the 160-unit Midtown Residences which is part of a mixed residential/retail development in Hougang (51 units sold) and the 130-unit E Maison (19 units sold), both of which are fully launched, as well as the 171-unit Jade Residences (79 units sold out of 100 units launched), the 36-unit Garden Park Residences (8 units sold out of 36 units launched) and the 27-unit Charlton 27 (3 units sold out of 27 units launched). Notably, the 48-unit mixed development Spazio@Kovan is fully sold within the month.

With limited new launches, homebuyers looked to previously launched projects such as D-nest and Urban Vista, which further sold 92 and 73 units respectively.