Here are the 5 top-selling private home projects in September

They're all from the OCR, RCR.

Singapore's new private home sales skyrocketed by 68% in September.

According to PropNex, all best-selling private home projects were from the RCR and OCR namely SkyVue sold 433 units at a median price of $1,401psf, Sea Horizon (Executive Condominium) moved 317 units at $818psf.

Thomson Three found buyers for 264 units at $1,362psf; The Glades sold 89 units at $1,518psf, whereas The Skywoods sold 37 units each at median prices of $1,290psf.

In all, new homes in the RCR and OCR contributed over 66% of sales in the month due to their larger project with more units available for sale and their more budget friendly launch prices compared to other regions (excluding ECs).

“With the tighter loan curb, first time home buyers and upgraders are expected to contribute to the bulk of the sales volumes as they generally do not have other debts and should have no difficulties in securing the full 80% bank loan.

We believe the emphasis will continue to be on mass market homes and ECs in the RCR and OCR as they are more budget friendly.

As affordability is hit, existing home owners who still want to invest in real estate might also turn to smaller homes with lower quantum. As a result, we also expect sales of smaller homes to be popular.”

“Nevertheless, home buyers and investors will continue to remain more cautious and will be more selective with projects, and we do expect the sales activity in this segment to remain healthy mainly dependent on the sensitive pricing by the developers.

We are predicting that the monthly transaction volume of new private homes in the next 3 months to be about 800 to 1,000 per month, to reach between 14,000 to 16,000 units for the entire 2013.

Any upcoming projects with ideal location and are priced sensitive at the right quantum should command a good demand,” said Mr Mohd Ismail, CEO of PropNex Realty.