Chart of the Day: Home sales crashed big-time by 82% in March

Total units sold hit 1,784.

According to Barclays, March home sales fell 35% m/m and 82% y/y. Private home sales fell to a three-month low of 480 units, and were also the lowest March monthly take-up since Mar 2008’s 301 units.

Typically March sales pick up after Chinese New Year festivities in January or February, but not this year.

Here's more from Barclays:

This brings year-to-date total of units sold to 1,784 units, based on data released on Tuesday by URA.

We attribute the poor sales to only one new launch – The Santorini at Tampines, in the far eastern part of Singapore, which is not near an MRT station, and sold just 13% of its total 597 units.

High-end projects remain weak, returned units at projects sold last month. The highest median price in March was at Skysuites@Anson for which one unit was sold at S$2,817psf, bringing the total take-up for the project to 215 units, or 60%.

In addition, we estimate some 38 units were returned including 19 from the best-selling two launches in the month of February – Rivertrees and Riverbank, which could be due to bank loan rejections on tighter TDSR conditions.

Also Read

One Sophia sells 30% of units at weekend launch

Turf City sites could deliver up to 800 public housing units: Huttons

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit