New home sales drop 58% MoM to 301 units in April

Year-on-year, sales fell 66%.

New home sales fell 58% MoM to 301 units in April due to fewer new units being placed on the market. The figure excludes executive condominiums.

Year-on-year, home sales fell 66%.

According to PropNex, only three new projects were launched in April, with two being boutique developments comprising fewer than 100 units.

Across submarkets, the Outside Central Region (OCR) led sales in April with 150 units sold, accounting for 50% of the month's sales. The Rest of Central Region (RCR) followed closely with 119 units sold, while the Core Central Region (CCR) came in last with 32 units sold.

In the EC segment, new sales fell by 55% to 51 units. The most popular EC project in the month was North Gaia, with 33 units sold at a median price of $1,315 psf, followed by Lumina Grand, which sold 18 units at a median price of $1,516 psf.