Homebuyers wait on the sidelines

Private home sales have slowed in June with buyers waiting for further project launches from the government land sales programme.

Alan Cheong, Associate Director, Savills Singapore, also noted: “The number of launched but unsold units remained high in May at 5,030.”

In a report taking a look at the residential market he said:

New private home sales remained strong with 1,825 units sold in May. Despite slipping marginally by 5% month-on-month, sales in May have increased 69% year-on-year and exceeds last year’s monthly average of 1,503 units. Excluding executive condominiums (ECs), the volume of sales fell by 13% to 1,575 units month-on-month.

The bulk of the sales (66%) came from the Outside of Central Region (OCR), followed by the Rest of Central Region (RCR) (25%) and Core Central Region (CCR) (9%).

The pace of sales improved in May with nine out of 11 new launches recording a take-up rate of more than 78% for their newly launched units. However, the number of launched but unsold units remained high in May at 5,030.

We expect the current sales momentum to moderate in the coming months. Anecdotally, private home sales have already slowed in June with more buyers choosing to wait on the sidelines for further project launches from the 2H/2011 government land sales programme. Talks on increasing the income limit for first time HDB home buyers may also filter some demand away from the mass market home segment.

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