Monthly Archives: October 2009

October home sales slow down

Posted on 31 Oct 2009 | Comments Off on October home sales slow down

OCTOBER appears to have been a much quieter month in the private property market than recent months.

Just over 350 private homes were sold in the first nine days of the month – the only solid figures available so far.

Property consultants say the pace of buying did not appear to have picked up for the rest of the month. They say the market seems to be pausing for breath as buyers resist higher prices.

Savills Singapore said caveats lodged from Oct 1 to 9 – the only available October caveats – show 355 residential units were sold, including just 40 units of new homes and 52 sub-sale units.

In comparison, 787 units were sold in the first nine days of September, including 276 new homes and 102 sub-sale units, it said.

In the first nine months of this year, new private home sales hit a recession-defying 12,828 units, resales touched 10,185 units, while sub-sales totalled 2,780 units. Continue reading →

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Posted in Property Market / Real Estate

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BTO flats in Sengkang & Jurong West almost 4 times subscribed

Posted on 31 Oct 2009 | Comments Off on BTO flats in Sengkang & Jurong West almost 4 times subscribed

(Top : Fernvale Palms in Sengkang, Bottom : Boon Lay Meadow in Jurong West) There were almost four times the numbers of applicants for the 1,200 flats released in HDB’s Build-To-Order (BTO) flats in Sengkang and Jurong West.

However, one industry player sees this demand for BTO flats as the norm and not as a result of the recent high prices in the HDB resale market.

Mohammed Ismail, CEO of Propnex, said: “BTO are generally in greater demand and the usual number of subscription actually depends on the location. If the BTO appears in a mature estate, we could see a very high number, (one which could) well exceed five times (the number of available flats).”

Prices for resale flats are expected to remain high over the next few quarters because of the demand from those who do not qualify for the BTO or Design, Build and Sell Scheme (DBSS) projects.

Eugene Lim, ERA’s Asia-Pacific’s associate director, commented that new BTO flats will do little to dampen resale prices. Continue reading →

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Posted in HDB

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