May’s figures of  638 units  (excluding ECs) saw a sharp decline of -45% month on month over April’s 1,167 units (adjusted upwards from 1,124). Both new launch condo projects Botanique @ Bartley (94 units sold) and North Park Residences (59 units sold) as well as sales from existing projects like The Panaroma (44 units sold) and Lakeville (39 units sold) made up the bulk of the sales figures.

This is the 1st  month of decline after 4 continued months of increase seen from Jan to Apr 2015. Traditionally May is a good month for the market as June would be the school holidays and many people would be out of the country. However, there were no major launches in April as both mega new launch condo NorthPark Residences and Botanique at Bartley were launched in Mar and therefore, pulling down the overall figures for May

Although volume has trended downwards, the volume is still above the 500 units mark. Therefore this stastics is considered healthy. June’s figures is likely to trend below the 500 unit mark as there are no mass market new launch developments.

The chart below shows the Developer’s New Sales (No. of units) transacted trend since April 2013

May 2015 new launch sales chart

Highest per square feet (psf) achieved was The Scotts Tower with 1 unit sold in May with the highest psf transacted in the entire market at $3,335 psf, followed by Cluny Park Residences with 3 units sold with the highest psf at $2,835 psf and thirdly, Marina One Residences with 12 units sold with the highest psf at $2,826 psf.

Projects with the highest volume of transactions above the $2,000 psf range are as follows:

1)      Marina One with 12 units sold at a median price of $2,391 psf

2)      Robin Residences with 5 units sold at a median price of $2,402 psf

3)      RV Residences with 5 units sold at a median price of $2,018 psf

4)      Cluny Park Residence with 3 units sold at a median price of $2,620 psf

5)      Skysuites @ Anson with 3 units sold at a median price of $2,201 psf

6)      Starlight Suites with 3 units sold at a median price of $2,107 psf

Projects with the highest transaction volume in May:

1)     Botanique @ Bartley with 94 units sold at a median price of $1,292 (255 units in April)

2)     NorthPark Residences with 59 units sold at a median price of $1,397 (486 units in April)

3)     The Panaroma with 44 units sold at a median price of $1,232 psf (39 units in April)

4)     Lakeville with 39 units sold at a median price of $1,279 psf (27 units in April)

5)     The Glades with 29 units sold at a median price of $1,390 psf (6 units in April)

6)     Citygate with 24 units sold at a median price of $1,821 (17 units in April)

7)     The Skywoods with 23 units sold at a median price of $1,212 (14 units in April)

8)     Sims Urban Oasis with 20 units sold at a median price of $1,433 (41 units in April)

9)     The Trilinq with 17 units sold at a median price of $1,348 (11 units in April)

10)  Coco Palms with 16 units sold at a median price of $1,035 (8 units in April)

11)  Kingsford Waterbay with 16 units sold at a median price of $1,094 (49 units in April)

12)  Symphony Suites with 13 units sold at a median price of $1,050 psf (29 units in April)

13)  Sky Habitat with 12 units sold at a median price of $1,619 psf (6 units in April)

14)   Marina One with 12 units sold at a median price of $2,391 psf (Nil in April)