The increase in new home sales in July was led by AMO Residence transactions.
Huttons Lee Sze Teck, Asia’s senior research director, attributed the increase in sales for the outer central region in July to AMO Residence’s “outstanding sales achievements.”
According to data released by the Urban Redevelopment Authority (URA) on Monday, sales of NEW single-family homes rose from June to July (Aug 15).
Developers sold 834 units, excluding executive condominiums (ECs), while only 402 units were introduced. This was an increase from the June totals of 488 units sold and 397 units introduced.
In July, 846 units, including ECs, were sold and 402 were introduced, compared to 496 units sold and 397 introduced in June.
According to URA data, the outside central region (OCR) accounted for more than half of private residential unit sales (excluding executive condominiums) with 485 units sold. This was followed by the core central region (CCR) with 185 units and the remaining central region (RCR) or city edge with 164 units.
Huttons Asia’s senior research director Lee Sze Teck attributed the 70.9% increase in sales from June to July to “outstanding sale results” for AMO Residence. In July, 366 units were sold at AMO Residence, contributing to an increase in OCR sales.
UOL Group: U14 +0.71%’s Ang Mo Kio development is the first major launch in the OCR for 2022 and the largest suburban condominium launch of the year to date.
A severe shortage of new homes in the suburbs has contributed to the success of AMO Residence. Since more than a year ago, no medium-sized condominiums have been built. AMO Residence is the only non-executive OCR condominium new launch with more than 350 units since the debut of Watergardens at Canberra (448 units) in August 2021, according to Christine Sun, senior vice president of research and analytics at OrangeTee & Tie.
In addition to Hyll on Holland, Riviere, Parc Clematis, Ki Residences at Brookvale, Perfect Ten, and The Florence Residences, OrangeTee & Tie’s Sun highlights Hyll on Holland, Riviere, Parc Clematis, Ki Residences at Brookvale, Perfect Ten, and The Florence Residences as July’s top-selling developments.
She forecasts that rising global inflation, interest rate hikes, and supply chain disruptions will continue to pose challenges for Singapore’s real estate market.
In July, 40.6% of transactions in the OCR were for homes priced at or above S$2 million, compared to 9.0% in August 2021.
From January 2021 to July 2022, the average size of S$2 million homes in the OCR decreased from 1,447 square feet to 1,222 square feet. Lee predicts that the average price per square foot (psf) will increase from S$1,579 in January 2021 to S$2,066 in July 2022.
He anticipates an increase in the proportion of properties with an average price per square foot of S$2,000 in the future.
He believes that the current sales rate reflects the demand created by the decade-long increase in the average household net worth of Singapore homes.
In September, there will be numerous debuts, including Enchante in CCR, Lentor Modern and Sky Eden@Bedok, both in OCR,” he stated.
He expects developers to sell approximately 9,000 units in 2022, with private housing prices increasing by 8%.
According to ERA Realty Network, this year’s total sales volume could range between 8,500 and 9,500 properties. As with Huttons’ Lee, ERA’s chief executive officer, Marcus Chu, anticipates increased pressure on home prices over the next few months as robust demand depletes the current supply of unsold homes.
The Reserve Residences is another upcoming integrated development that you may wish to consider. The Reserve Residences are situated in a charming, well-connected neighborhood near the thriving central business district. Although it has numerous amenities, the most essential ones are easily accessible. Everything is within walking distance of the Lentor Hills Residences, allowing families to play and work close to home.
The Reserve Residences is connected to a number of transportation lines, allowing for quick commutes. The Beauty World MRT, which operates on the Downtown Line and brings passengers to the Central Business District in minutes, is a short distance away. In addition, it is connected to Bukit Timah Road, Dunearn Road, and major expressways including the BKE, PIE, and KJE.
There are a number of schools nearby for parents with children of school age. This indicates that your children will not be required to travel far to attend school. The top options include Singapore Chinese Girls’ School, Bukit Timah Primary, Anglo-Chinese School (Junior), and Nanyang Girls’ High School.
With nearby hawker centres, grocery stores, restaurants, and malls, The Reserve Residences provides its residents with a convenient lifestyle. Consider living a few steps away from the renowned Bukit Timah Market and Food Centre and conducting all of your shopping at the nearby Bukit Timah Shopping Centre. Bukit Timah.
In addition to excellent shopping malls and prestigious schools, abounds with exciting weekend destinations. Bukit Timah Nature Reserve, Singapore Botanic Gardens, and the enchanting Bukit Timah Hill are all in close proximity, providing countless opportunities for exploration.
while you miss AMO Residences, another development you might arouse your interest would be Lentor Hills Residences. It is next to the integrated development Lentor Modern. It superb location provides un match convenient with the Lentor MRT across the road as well as over 1oo retails and childcare centre within 3 mins walk.
Lentor Hills Residences is also well connected to other parts of singapore via TPE, CTE & SLE expressway. it is also jointly developed by reputable developer Guocoland and TID Residential. information like Lentor Hills Residences floorplan, Lentor Hills Residences price will be out soon. If you wish to register for lentor hills Residences showflat, call 61003487.