New private home sales down 23.6% in August

Brand-new private residence sales in Aug fell 23.6 percent to 1.215K apartments (omitting exec condo) out of 1,591 units in Jul, revealed records launched through the URA on Wed 15Sept.

In an annual comparison, new houses transactions decreased Three point Four %.

Leonard Tay, Head of Research at Knight Frank SGP, referred the reduction to a shortness of brand new launches.

Amongst Aug’s new debut, The Watergardens marketed close to 60 percent out of its 4hundred 48 apartments, astride huge improving request from the HDB market. It became the best-selling housing in August, followed by Normanton Park, The Florence Residences, Midwood and Treasure at Tampines.

The Landmark Condo Price

On the best ten listing are Dairy Farm Residences, Parc Clematis, Leedon Green, The Jovell and Avenue South Residences.

Huttons Asia chief exec officer Mark Yip took note that regardless the Lunar Seventh Mth, developers still managed to sell more than One thousand units, in which was more contrasted to the comparable time period last year.

“Home buyers are quite possibly in a lower degree worried regarding executing to a residence buy during the Seventh Mth nowadays,” Mark stated.

Counting out executive condominiums, the OCR accounted for Fifty Nine point Three percent of full sales in Aug2021, whereas the RCR and also Core Central Region comprised 28.2 % and Twelve point Five percentage, respectively.

Of the total transactions in Aug 2021, Forty Seven point Five percentage were actually amount below $1.5 mil, Twenty Eight point Four percentage were around $1.5 million and $2 million, whereas 24.1 % were over $2 million.

S’poreans represented Eighty Five point Four % out of the purchases, whilst Permanent Residents including immigrants constituted 10.5 % and Four point One percent, specifically.

Looking ahead of time, Leonard trusts brand new private home transactions will definitely “exceed the 10thousand score by end of the year, and even is more possible to reach 12thousand exchanges for the overall year”.

Yip similarly sees Twelve Thousand new sales for 2021.

He mentioned that 2 brand-new debut are projected in Sept– Bartley Vue and Jervois Mansion– whereas few more release are organized in the Quarter 4 of ’21 — that is, Belgravia Ace, Amber Sea, Canninghill Piers, Cairnhill 16, Perfect 10, Mori, and also The Commodore.

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