Chart of the Day: 3,089 residential units sold in Q2

It outweighed the number of newly launched projects.

The residential sales volume continued to rise in the quarter, with buyers picking up more units from projects that had been launched before.

According to CBRE, this was due to a combination of few new launches and some buyer perception that higher land costs could mean higher prices for the future stock.

The number of new homes sold outweighed the number launched from new projects in both this quarter and 1Q17.

However, the difference was more marked in 2Q17. There is a total of 3,089 new private homes sold in the quarter even though about 734 units were launched from new projects.

In comparison, 2,962 new private homes were sold in 1Q17 against 1,714 units launched from new projects.