New private home sales fall amid lack of mega launches

New private home sales slipped to 729 units in March from the 1,597 units sold in February, owing to a lack of mega launches compared with a more active launch pipeline in the first two months of 2025.

- Grace Leong

Excluding executive condominiums (ECs), just 555 new units were launched in March, compared with the 1,694 units in February. As a result, month-on-month new private home sales fell 54.4 per cent in March, but were up 1.5 per cent year on year from the 718 units sold in March 2024.

Including ECs, new home sales fared a little better. Overall sales dipped to 1,510 in March from the previous month's 1,626, shored up primarily by a near sell-out at the launch of Aurelle of Tampines, the first new EC to be launched in 2025.

Collectively, the Aurea and Lentor Central Residences, the other two new launches in March, offered a total of 665 units, compared with nearly 1,700 units from two February launches — Parktown Residence and Elta.

The top-selling condo was Lentor Central Residences, which moved 460 of its 477 units, or 96 per cent, within its launch month, outperforming five earlier launches in the Lentor Hills area.

Buyers were likely drawn to its proximity to Lentor MRT station and nature parks, said OrangeTee Group's chief researcher and strategist Christine Sun.