Category Archives: New Launches

More launches expected in coming months

Posted on 9 Sep 2014 | Comments Off on More launches expected in coming months

As it was seen as an inauspicious time to buy property during the seventh lunar month, which fell in August, developers are expected to launch more private residential projects in September and October, according to experts as reported in the media.

These include Keppel Land’s Highline Residences in Tiong Bahru which was previewed in the past two weekends. The guide price for the 500-unit project stands at $2,000 psf.

To attract more customers, Keppel Land is offering concierge services to buyers, such as housekeeping and limousine services, plus membership at a golf club in Bintan.

Another major project slated to be launched is the Marina One Residences (pictured) by M+S, a joint venture between Temasek and Khazanah Nasional. The development is anticipated to be released on 13 September, with indicative prices averaging at $2,600 psf.

ERA Realty’s Key Executive Officer Eugene Lim explained the peak periods for housing sales occur after the Chinese New Year and Hungry Ghost Month. “Most developers will capitalise on this second peak window to clear as many units as they can before this year-end lull,” he added.

Meanwhile, several Executive Condominiums (ECs) are expected to come on stream after a hiatus of nearly one year.

Developers of two EC sites at Punggol’s Anchorvale Crescent and Woodlands Avenue 5 are set to unveil their projects. In fact, construction of the Woodlands Avenue condo has started and online applications will begin by end-September. Prices are expected to fall within $750 to $820 psf.

Additionally, three other ECs in Punggol and Jurong West are scheduled to debut in November. Altogether, these developments will have around 2,900 units.

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Sales volume, launches drop by half in H1 2014

Posted on 17 Jul 2014 | Comments Off on Sales volume, launches drop by half in H1 2014

4,476 homes were sold in the first six months of 2014, less than half the sales recorded in the first half of 2013, according to CBRE.

“The drop in sales in the first half of the year is mainly the result of the fall in the number of launches. The number of units launched in the first half of 2014 totalled 4,807, which is about half of the 9,941 units launched in the first half of 2013,” said Joseph Tan, Executive Director at Residential, CBRE.

While the units sold in the H1 2014 is lower, it still reflects a strong take-up rate of 93 per cent, he added.

According to Colliers International, launch and sales volumes declined year-on-year respectively by 76.4 percent and 73.3 percent from the 1,768 units launched and 1,806 units sold in June 2013, before the Total Debt Servicing Ratio (TDSR) was announced.

“The sales tally of 482 units in June 2014 is the lowest registered for the month of June since primary market sales data was made available from June 2007,” said Chia Siew Chuin, Director of Research & Advisory at Colliers International.

She expects launch activity to pick up slightly as the traditional lull period is over,

However, with fewer affordably-priced mass-market projects in the pipeline, buying volume is not expected to improve extensively. Colliers International predicts primary market sales volume remain to the region of 400 to 700 units in July.

For the second half 2014, location and the pricing will be the most important factors in determining home sales volumes. CBRE expects buyers to remain selective and take a longer time to make their purchase.

Tan said, “Based on the projects that will be coming on-stream, we anticipate that underlying demand, coupled with competitive pricing, should ring in total new sales of between 8,000-9000 units for the whole of 2014.” 

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Posted in Loan / Mortgage / Finance, New Launches, Property Market / Real Estate

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