Developer sales to slump in May

Given the limited number of project launches this month, sales of new private residential properties in Singapore are expected to fall sharply in May, revealed media reports quoting experts.

Property analysts believe the number of transactions could plummet to about 300 to 400 units this month compared to the previous 1,124 units, which represents a huge growth of 83.4 percent on a monthly basis.

“April’s sales volume is the highest monthly tally since May last year, a function of quality supply. Nevertheless, CBRE would like to reiterate that if no major launches are recorded in May, we might see numbers drop to previous months’ levels of about 300 – 400,” said Desmond Sim, CBRE Research Head for Singapore and Southeast Asia.

Wong Xian Yang of OrangeTee Research also agrees, stating that the number of launches directly affects the sales volume for any particular month.

“Developer’s sales figures are expected to moderate in May, due to the dearth of launches in May so far. A higher the number of launches increases the probability of higher sale figures for that particular month,” he added.

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