Sales of new private homes holding up in August

Summary:

Contrary to the past, August being the traditionally inauspicious month has seen developers sold over a 1000 units. Leading the sales was Parc Clematis with over 300 units sold as at sept 12. Sales in August was considered to be on par with July with 1122 homes sold excluding EC while July which is normally the best performed month in a year has sold 1178 homes excluding EC this year. The changing in buyer demographics is likely a contributing factor.

Launches are expected to resume in full swing after the hungry ghost month is over and Q4 will likely see robust activities for the new launch market. The decreasing interest rates coupled with Singapore’s reputation as a safe option for long term investments could keep sentiments bright.

Colliers projects the take-up tally for 2019 to surpass the 8,795 units scooped up in 2018.

Source:https://www.businesstimes.com.sg/real-estate/sales-of-new-private-homes-holding-up-in-august

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