Home buyers buoy residential market

Resale and subsale deals rose 57% in 3Q.

Given that the demand for the secondary market especially the resale market is a more accurate indicator of the owner-occupier demand, the increased transaction volume is a good sign that buyers are coming back to the market after prices have fallen to more attractive levels, said Cushman & Wakefield research head Christine Li.

On the transaction front, a total of 4,596 units were sold in 3Q2016, similar to 4,550 units sold in 2Q2016, but up 14% Y-o-Y. It seems that sales momentum continued into the 3Q though more units were transacted in the secondary market (ie resale and subsale) rather than the primary market. The proportion of secondary market transactions has risen to 57%, up from 50% in the previous quarter.

It is also the highest since 2Q2011 when secondary market transactions made up of 60% of the total transaction.

The stronger performance in the secondary market is attributed to falling prices in 3Q.

The overall private residential price index fell by 1.5% Q-o-Q in 3Q2016, the steepest price drop since 2Q2009, reflecting the fact that residential property market is still facing challenges and headwinds arising from slow growth and multiple rounds of cooling measures and loan curbs.

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