In URA’s statistics on developers’ sales for the month of March 2018, developers reported that they had launched 614 new units and sold 716 units in the month. In March, there were only two new projects launched, namely 8 Hullet and The Tapestry. Out of the 716 units sold, only 344 units (48%) were from these new launches. The other 372 units (52%) were from projects that were already in the market. Based on URA monthly statistics on developers’ sales, the total number of unsold units has been reduced by almost half from 12,212 in March 2017 to 6,641 in March 2018. That partly explains the relatively high success rates of the new launches in terms of volume and prices achieved. New projects in the Core Central Region (CCR) are seen to push the threshold of prices further up. The 15 units of 8 Hullet were sold at a median price of $3,490 psf. These were all one- and 2-bedroom units ranging from 50 sqm (538 sq ft) to 74 sq m (797 sq ft). The most expensive unit was a 74 sqm unit on the 11th storey at $2.81 mil ($3,528 psf) and the highest floor rate of $3,564 psf was achieved by a 50 sqm unit on the 9th storey. In February, an 89 sqm unit on the 53rd storey of Wallich Residence in Tanjong Pagar was sold at $3,894 psf. It is foreseeable that the $4,000 psf threshold for new projects in CCR will soon be attained.