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News Release


Urban Redevelopment Authority Private Residential Property Transactions for October 2011

Overall launches and sales fall as market slows

Singapore, 15 November 2011 – The URA monthly sales volume for private residential units (excluding executive condominiums (ECs)) decreased by 15% m-o-m in October 2011 to 1,387 units island-wide. While the Core Central (CCR) and Rest of Central Regions (RCR) recorded increases in both sales and launches, it was the Outside Central Region (OCR) which was the driving force behind the overall fall as both the number of sales and launches decreased in October following several months of sustained activity.

“This slower demand in the OCR is a reflection of the highly “sentiment” driven nature of the mass market.  The Eurozone is not out of the sovereign debt storm and consumers’ and investors’ confidence has definitely been affected. According to the 3Q Global Consumer Confidence Survey done by Nielsen, Singapore alongside Malaysia showed the biggest decline in consumer confidence level due to the global economic uncertainty” says Dr Chua Yang Liang, Head of Research South East Asia. 

Table 1: Total island-wide (landed & non-landed excluding ECs) units sold






m-o-m change

y-o-y change

























Take-up Rate







Sales activity in the OCR fell by some 32% m-o-m in October to 893 units following two consecutive months where sales totalled more than 1,000 units. The number of launches also fell significantly, by 55% m-o-m to 682 units. As a result, the take-up rate in this region increased to 131% in October compared with 88% in September as previously launched units are absorbed and latent demand remains for residential units.

New launches remained limited in the OCR in October with only three new projects coming to the market, namely D’Zire, where developer Robeyfort Land Pte Ltd launched an initial ten units at the 47 unit development, The Seawind where 61 of a total 222 units were launched and Parc Vera where 190 of the overall 452 units were launched. Take-up activity was mixed, varying between 20% at D’Zire up to 76% at Parc Vera. The overall take-up rate in the OCR was boosted by activity at previously launched developments, and most notably at EuHabitat where 61 units were sold but only two units launched this month, a sales rate of 3,050%. Overall, 612 of the 687 units launched to date at EuHabitat have been sold. Also experiencing good sales activity were Seastrand, with a monthly take-up rate of 228%, A Treasure Trove, where take-up reached 112% for October and Bliss @ Kovan which secured sales on 26 units with only 25 launched this month.

Activity picked up in October in the CCR with sales volume increasing by 54% m-o-m and launches by 110% m-o-m. The only new launch  was at Priscious Pte Ltd’s Three Balmoral where the first 20 units were launched at the development but only three units secured sales. D’Leedon continues to be the main contributor of new supply in this market, with a further 150 units launched this month bringing the total number of units launched here to date to 800, with 56% of units sold. While sales activity picked up overall, the risk of oversupply continues to blight this market as the overall take-up rate continues to fall and was only 34% in October.

The RCR also experienced an increase in both sales and launch activity, up by 40% and 60% m-o-m, respectively. The take-up rate in the RCR also increased to 97% in October as buyers continue to soak up the available stock in this market. There were several new launches in October in the RCR, the largest being Regent Residences on Serangoon Road where all 180 units at the development were launched, with sales secured on 128 units. In addition, all 106 units at Rezi 26 in Geylang were launched achieving an overall take-up rate of 85% while Kay Lim Investment Pte Ltd launched all 48 units at its Rangoon 88 development, securing sales on 35 units.

Overall, market sales volume (and launches) has been softening islandwide. After the surge in September, sales volume is heading back around the July and August 2011 levels of some 1,300 – 1,400 units per month. The final quarter of the year is typified by lower market activity of some 30% to 45% of the third quarter. “With the global economic headwind and the seasonal slowdown, market sales activity in November and December could achieve some 900 – 1,200 units per month, bringing the final quarter sales volume to 3,200 to 3,800. The full year sales could close at 15,800 to 16,500 units – similar to 2010’s level of some 16,600 units that was reportedly sold according to this URA monthly series that started in 2007” adds Dr Chua.

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