Private home sales soared 68.1% to 1,325 units in April

Rivercove Residences sold 512 units and bolstered this month's sales figure.

Developers’ new home sales including executive condominiums (EC) rose by 68.1% from 788 units last month to 1,325 units in April. On a yearly basis, home sales jumped 134.1% from 566 units last year.

OrangeTee & Tie noted that the top-selling projects were Rivercove Residences (512 units), Park Place Residences at PLQ (166 units), The Verandah Residences (141 units), Harbour View Gardens (52 units), and The Tapestry (51 units). 

OT&T head of research and consultancy Christine Sun noted that sales remained robust as more buyers have decided to commit to a purchase now rather than wait further, and this buying trend is likely to continue into the next few months.

"As some mid-large sized projects like Twin Vew and Amber 45 are being launched/slated to be launched this month, the primary sales in May may surpass April's numbers," she said.

Moreover, Sun observed that developers are fast-tracking their projects launches in the coming weeks. "This is rather unusual as most developers would typically avoid the June holidays to launch any major projects; as seen from a dearth of major launches in the month of June from 2015 to 2017," she added.

Some major launches on the cards include The Garden Residences, Affinity at Serangoon, Margaret Ville, South Beach Residences and The Jovell. Other launched projects may also be releasing more units in latter phases.

"Therefore, we foresee a spike in sales transactions this June," she concluded.