New home sales rise 13.9% month-on-month in March
A scale model of the The Botany at Dairy Farm, the best top-selling project for March.
In March, The Botany at Dairy Farm in the Outside Central Region led the way with 184 units sold at launch and a median price of $2,068 psf. Realis data from January to March showed that the gap in median price quantum for all non-landed homes between the CCR and RCR has narrowed from 44.6% in January to 30.5% in February and 24.4% in March.
“The current buying trend seems to be more supply-led rather than demand-driven, depending largely on what projects are released that month,” comments Christine Sun, senior vice president of research & analytics at OrangeTee & Tie. For example, the one- and two-bedroom units were almost sold out at The Botany, Huttons’ Lee points out. Investors zoomed in on these units due to the rental demand from the German European International School next door. Smaller households also favoured the two-bedroom units, he notes. Meanwhile, upgraders preferred the three-bedroom.
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