Aside from this, no new launch is “expected within the immediate vicinity, in the short to medium term”.

"These are very strong numbers, indicative of the latent buying demand that is still very much prevalent in the market today," ERA Realty Network key executive officer Eugene Lim said.

"The coming months will see more projects being launched as developers look to capitalise on the strong buying momentum exhibited," Mr Lim said.

There is a fall in New private property sales in June, after the impressive high in the previous month. According to The Urban Redevelopment Authority (URA) Data, only 536 new residences were transacted last month, which halves from 1,058 units sold in May.

The analysts have attributed the decline's causes to the shortage of new property launches and the seasonal effect from the June school holidays. However, in comparison with the figures at the same time last year with just 375 units transacted, the sales in June saw an annual increase up to 43 per cent.

All these features positive signals with more buyers coming back to the market. And it is thought that the price is likely to fall much more and that's the right time for their purchasing decision.

After some cooling property measures of The Government such as Total Debt Servicing Ratio and The Additional Buyer's Stamp Duty in 2013 that have lowered the prices of private property, private homes' demand has been sluggish considerably.

Last month, only 234 new private homes were launched compared to 1,345 units put up for sale in May. The suburban areas accounting for 60 per cent of deals with 324 units sold led sale, followed by the city fringe with 166 units transacted and the main central region with 46 units.

Top best-selling private residences in June 2016

And Three best-selling residential properties came from the suburbs. Buyers tend to take up unsold units at the existing properties in the market due to the absence of major launches.

Kingsford Waterbay Condo at Upper Serangoon View sold 34 units at the average price of $1,185 per sq ft. The Glades at Tanah Merah 32 units at the average price of $1,402 psf and 31 units of Kingsford Hillview Peak were moved at the average price of $1,315 psf.

And it was stroke the market as the odd was that there were no significant discounts offered from developers amongst Top five best-selling private homes, their successful sales are attributed to the improving sentiment.

In the segment of EC, there were no new EC launched and only 232 units were transacted last month, down by 30.5 per cent from 334 ones in May. And Bellewaters EC in Anchorvale Crescent is the best-selling project with 43 units moved at the average price of $804 psf.

From URA figures, the first half of this year saw an increase in sale of new private homes with the total of 3,814 units sold that was up 7 per cent in comparison with 3,564 sold units at the same time one year ago.

All signs indicate an upcoming bottoming-out and the property market has gradually transitioned to a stable phase. In addition, new properties like Lake Grande a?t Jurong West, Parc Riviera in West Coast Vale, and Gramercy Park can help the sale volume boost, developers can step up before the traditional Chinese Hungry Ghost Festival.

The inspiration behind Kingsford WaterBay stems from Sentosa Cove’s waterfront living concept.

Prices for a one-bedroom unit start at over $500,000, and a three-bedroom at over $900,000. Four-bedders cost just over $1 million, while a five-bedroom unit a little under $1.5 million.

Waterfront living has long been the lifestyle of choice for many, although the price premium required has often put such a dream out of the reach of many.

This is a gap that Shenyang-based property developer Kingsford Development is trying to bridge. The group in 2013 acquired two adjacent land parcels at Upper Serangoon View, and has amalgamated both sites, located in District 19, to form a single development that will boast a 400m frontage of Sungei Serangoon.

Named Kingsford WaterBay, average selling prices at the 1,157-unit development is affordable at $1,117 – $1,183 per square feet (psf).

Prices for a one-bedroom unit start at over $500,000, and a three-bedroom at over $800,000. Four-bedders cost just over $1 million, while a five-bedroom unit a little under $1.5 million. The property boasts one- to five-bedroom condominium units, with sizes ranging from 474 square feet (sq ft) to 1,302 sq ft.

Apart from condo units, the development also boasts six units of strata terrace houses at 1,625 sq ft, and two units of strata semi-detached houses, with the latter fully sold. Kingsford WaterBay is expected to receive its temporary occupation permit in 2018.

Consultants such as R’ST Research director Ong Kah Seng have noted that the pricing of the suburban, 99-year leasehold project has been a huge draw.

Kingsford Development’s founder Cui Zheng Feng said the inspiration behind Kingsford WaterBay stems from Sentosa Cove’s waterfront living concept.

This is why half of the development will get to enjoy the serene riverfront views of Sungei Serangoon – also well-known as a wildlife magnet. Birds like herons, terns, and kingfishers can still be found at the river, while the area closer to Lorong Halus is considered one of the best bird-watching spots in Singapore. Monitor lizards and otters have also been found near the river banks.

The other half of Kingsford WaterBay will get to soak in views of the development’s extensive range of water-themed recreational facilities, which include a meandering 300-metre-long swimming pool, accompanied by an aqua deck.

The pool is not just a sight to behold as it winds and flows through the development, residents are free to swim along its entire length – the longest swimming pool in Singapore.

Scenic water views aside, residents of Kingsford WaterBay will also have abundant amenities available at their fingertips. Apart from taking a dip at the pool, sports and fitness aficionados can take their pick between an indoor and sky gym, or play a round of tennis at its courts. The property’s location right next to the Serangoon Park Connector also means that one can easily take up activities such as cycling or jogging.

To cater to young families, Kingsford WaterBay will also boast a childcare centre, which will be run entirely by the condominium’s management corporation. The innovative scheme thought out by developer Kingsford will give residents priority to enrol, and the fees collected can be used to pay for the condominium’s maintenance. The property also includes some retail shops to provide convenience to residents.

Outside of the development, Greenwich V, Fernvale Mall, Rivervale Mall and Hougang Point are all within the vicinity, providing a range of Food & Beverage (F&B) options for dining out, as well as shopping options to purchase daily necessities.

MRT stations such as the Hougang and Buangkok MRT stations are a little over one kilometre away. It is also a short distance apart from the Kallang-Paya Lebar Expressway (KPE), and less than a 30-minute drive to the Central Business District (CBD) and Singapore’s leading shopping belt Orchard Road.

Academic institutions that are in the area include Punggol Primary School and CHIJ Our Lady of the Nativity.

New private home sales in Singapore, excluding executive condominiums (ECs), fell by 11.6 percent to 745 units in April 2016, compared to the 843 units sold in the previous month, according to latest data published by the Urban Redevelopment Authority on Monday (16 May).

The property agency stated that the Outside Central Region (OCR) and Core Central Region (CCR) saw weaker sales last month, with the drop in the CCR being attributed to the higher take-up rate for Cairnhill Nine in March. “Notwithstanding, Cairnhill Nine is still doing well, selling 33 units in April, where the bulk are one- and two-bedders,” said Lee Nai Jia, Regional Head (SEA) Research, DTZ.

The best-selling private residential project in the month was Sturdee Residences in the Jalan Besar area, boosting sales in the Rest of Central Region (RCR) to 320 units, said DTZ. Meanwhile, Kingsford Waterbay in Upper Serangoon managed to sell 20 units in April.

Among the EC projects, The Visionaire sold 154 units and Parc Life moved 51 units, despite both projects receiving more e-applications. “Given that the buyers can withdraw their e-applications at no cost, the conversion rate is low,” said Lee.

He explained that the overall slowdown in sales was due to a number of reasons. “Besides the cooling measures, buyers were also affected by the releases of weaker economic data, both globally and locally.
“As the economy becomes more uncertain, and (with) the Additional Buyer’s Stamp Duty (ABSD) weighing on buyers’ decisions, more buyers prefer to stay put unless they find the project very attractive, in terms of its pricing and location.

“Notwithstanding, the release of May and June’s data will give a better indication on whether there is a further weakening of demand or not,” he added.

TOP Selling Private Development in March

The successful launch of two condominium projects in March has lent a boost to new-home sale transactions in Singapore.

This has also reinforced the market's belief there remains strong underlying demand for good-quality residential properties at the right price, despite the quiet months of January and February.

According to data released by the Urban Redevelopment Authority (URA) on Friday, developers sold 843 private homes last month, close to triple the 303 units sold in February.

About 682 units were launched in March, more than three times the 209 units launched in February.

JLL national director Ong Teck Hui said: "Market confidence seems to have returned following the stock market volatility in the earlier part of the year and the Chinese New Year lull.

"New sales take-up in Q1 2016 stands at 1,470 units, some 12 per cent higher than the 1,311 units which developers sold in Q1 2015. We now have to observe whether sales volume in the primary market has bottomed out and is on the path to recovery."

CapitaLand's 268-unit Cairnhill Nine sold 177 of the 200 units launched, at a median price of S$2,441 per square foot (psf), thanks to the project's attractive location near Orchard Road and digestible price quantum.

The Wisteria, which launched all of its 216 units, sold 125 at a median price of S$1,112 psf, given its appeal as part of a mixed development. It comes with a lifestyle mall.

Other top-selling private residential projects in March were The Poiz Residences (59 units at a median price of S$1,475 psf), Kingsford Hillview Peak (43 units at a median price of S$1,289 psf) and Botanique at Bartley (31 units at a median price of S$1,302 psf).

Inclusive of executive condominiums (ECs), a public-private housing hybrid, developers sold 1,328 units in March, more than thrice those sold in February. Some 1,216 units, including ECs, were launched, compared to just 209 in the preceding month.

This was mostly due to the launch of Sim Lian's Wandervale EC, which sold 292 of its 534 units at a median price of S$770 psf.

The other better-performing ECs in March included The Terrace (36 units at a median price of S$785 psf), The Brownstone (27 units at a median price of S$831 psf) and Sol Acres (26 units at a median price of S$791 psf).

Consultants noted pent-up demand in the private-home market, which they say surfaces when buyers perceive good deals.

In the past few years, in the absence of good options, many buyers had chosen to wait on the sidelines for prices to fall further, or for the property cooling measures to be removed, both of which did not happen.

Now, with the government's reiterations that the measures will remain for a while, this could have prompted some buyers to finally be more decisive in acting on the purchases, he said.

"The sales pick-up for these developments in March is poignant enough to reflect an improvement in sentiment and demand," Mr Ong noted. "If this trend continues, it would result in improvements in both launches and sales take-up in Q2, and that may pave the way for further moderation in price declines in 2016, compared to the last two years."

PropNex Realty CEO Ismail Gafoor also expects strong sales volume in Q2 with the upcoming condominium launches of Gem Residences, Sturdee Residences and Stars of Kovan.

Two new ECs, Parc Life and The Visionaire, are also slated for launch this month.

Meanwhile, Mr Ismail believes developers will be adjusting their pricing strategy to continue moving units in their past launches.