The Florence Residences

SINGAPORE: Revenue of new private houses in Singapore surged 47.2 percent year-on-year in March as programmers rolled out several jobs following the slow Chinese New Year festive period, leaving buyers the florence residences“spoilt for choice”.

Developers offered 1,054 units, excluding executive condos, in March in comparison with the 716 houses sold in precisely the exact same month this past year, information from the Urban Redevelopment Authority (URA) revealed on Monday (Apr 15).

“With the departure of this joyous month of February, programmers were eager to restart launches which resulted in 10 new private residential jobs and 1,812 units being found available in March,” noted property company JLL. This contrasts with the 614 units found in March this past year and also the 596 started in February.

With more jobs being rolled from programmers, buyers continue being spoilt for choice,” stated Mr Eugene Lim, primary executive officer in ERA Realty Network.

Two of those 10 jobs – 35 Gilstead and Boulevard 88 – established last month were at the Core Central Region, in which components travelled for a median cost of S$2,549 and S$3,613 psf, respectively. Additionally, 25 new personal houses sold last month were over S$5 million, the maximum number recorded for one month since December 2013, noted Ms Christine Sun, head of consultancy and research in OrangeTree. Of those 25 units, 20 were from five and Boulevard 88 were against Marina One Residences.

The most expensive unit offered in March was a 528 sq m unit in Boulevard 88, that was purchased at S$28 million. At S$4,927 a sq feet, this was the highest per square foot cost for a brand new sales unit as June 2013, stated Ms Sun.