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Subscribe to this list via RSS Blog posts tagged in coco palms

Sales of New Launch Private Homes Doubled in May 2014


Sales of new launch private homes almost doubled from April to May 2014 with 1470 units sold according to the URA. If ECs are included, the total units sold last month would be 1528 units compared to 797 in April 2014. This has been attributed to the larger number of new homes launched in May - 1790 which is greater than 3X the number launched in April (600 units).

Sales in the Core Central Region was 2%, Rest of Central Region (RCR) 34% and Outside Central Region (OCR) 64%. Three developments - Coco Palms, Commonwealth Towers and The Panorama made up 65.6% of sales. Two points may be noted for these properties - lower psfs and location. Last month Sky Habitat and Laveville were the top sellers.

In June, several factors may lead to lower sales - school holidays and World Cup Fever and although developers may launch ahead of the lunar 7th month period in August.


Month No of Units Comments
Dec 2013 259 15k homes sold in 2013 
Jan 2014 565 2028 in Jan 2013
Feb 2014 739
Mar 2014 480
Apr 2014 745 Lake ville Condo (207), Sky Habitat (130, 1377psf avg)
May 2014  1470  Coco Palms (OCR, 590, $1018psf),  Commonwealth Towers (RCR, 275 units, $1626 and Panaroma (OCR, 100 units, $1241 psf, relaunch)

* Year to date sales 3963 units, Jan to May 2014.

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New Launches in the Coming Months Despite TDSR 

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Despite the slow down in the market, several new launches are being planned for the next 6 months. In Mar, the number of private dwelling sold fell to only 480 from 739 units in Feb and 572 units in Jan for a total of 1791 units for that quarter. This is the lowest since late 2009 as reported by Savills. Sales are down about 29% from last quarter and 57.9% year on year. The last cooling measure, the TDSR has shown its efficacy in cooling down the market as well as the buying sentiments and ability of many would be buers. But, it has been demonstrated by several projects that there are still buyers for projects with the right combination of design, location and prices. Examples of these are the Hillford (all 281 sold out), Riverbank in Sengkang (84% sold), RiverTrees Residences (73% sold) and The Panorama in Ang Mo Kio (48% sold). The recently launched Commonwealth Towers in Queenstown has also seen a lot if interest due to its location near the city and across the road from the Queenstown MRT. Many developers who bought their land at high prices are relunctant or unable to lower their prices down to what the market now expects. On a positive note, there is recent evidence that developers are now more cautious about their land bids and hopefully this will lead to a moderation of prices in the future with the caveat being that should the market turn around, developers will want to price their units to maximize profits even with land bought at lower prices. Developers who own freehold land from days of old are the ones with the most leverage in terms of timing and profits. Examples would be The Tembusu and Kallang Riverside.

Despite the slow down, several residential developments are in the horizon of the next half year:

  • Kallang Riiverside - Freehold mixed development along the Kallang River offering great views, river side living and proximity to the city and its amenities
  • Coco Palms - Leasehold condo in Pasir Ris Grove offering 1 bedroom units at less than $500k
  • The Rise @ Oxley near Dhoby Ghaut MRT Interchange.
  • Sunnyvale Residences in Teluk Kurau, near Kembangan MRT
  • The Crest by Wing Tai in Tanglin
  • The Bijou in Pasir Panjang
  • Condo at Yishun Central (to be announced)
  • Pollen and Bleu, Farrer Drive
  • New Futura, Leonie Hill Road,
  • Gramercy Park, Grange Road
  • Robin Residences, Robin Road
  • Marina One Residences in the city
  • South Beach Residences in the city
  • Highline Residences by Keppel Land
  • Marine Blue in Marine Parade
  • Others to be announced

Buyers will have multiple choices going forward but if they think it is the right time to jump in, they should be on the look-out for gems based on the benefits and price points and be prepared to act as shown by some of the successful launches last quarter. 

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