Take-up in Sora seen boosting July home sales

Sora fetched an average price of $2,160 psf during its launch weekend.

Singapore’s private housing market kicked off July strong with a 23% take-up during the launch weekend of Sora, the third condo project to launch in Jurong East.

Ismail Gafoor, CEO of PropNex, said selling 102 units out of Sora’s 440 units provides a “favourable start” for new home sales this month considering the rather tepid homebuying activity over the past months.

“We believe that the sales at Sora and the upcoming launch of Kassia later this month would give the new home sales segment a much-needed boost and liven things up, ahead of more launches to come,” Gafoor said.

Units at Sora changed hands at an average price of about $2,160 per square foot over the weekend, which is slightly higher than the $2,120 psf average price booked by the project next door: Lakegarden Residences which sold 71 units during its launch in August 2023.

Gafoor expects home seekers to come back in the coming months and reconsider Sora, thanks to its location near the up-and-coming Jurong Lake District.

Mark Yip, CEO of Huttons Asia, said the majority of homebuyers at Sora were staying in the West and have purchased their units for their own stay.

“The appeal of having a National Garden at the doorstep of their homes drew buyers to Sora. Buyers saw the potential of living in Jurong Lake District, the largest business district outside the central area,” Yip added.

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