Category Archives: Property Market / Real Estate

September new home sales drop

Posted on 16 Oct 2009 | Comments Off on September new home sales drop

Still, full-year sales are expected to top 2007’s 14,811 units

THE recent buying euphoria in the new homes market appears to have cooled further, with developers selling 1,143 units last month, well down on the 1,804 units sold in August.

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Property consultants attribute the fall to seasonal factors and price resistance, as well as government measures introduced last month to calm the fast-rising market.

A slowdown had been expected, as the fast and furious pace of sales – which hit a whopping 2,772 units in July alone – was not sustainable, they said.

Still, the weaker September sales figure is about treble the number of units sold in the same month a year earlier. Sales in the first nine months of the year are now 12,969 units. Continue reading →

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Singapore September home sales 1,143 units, URA says

Posted on 15 Oct 2009 | Comments Off on Singapore September home sales 1,143 units, URA says

Singapore’s private home sales fell in September from the previous month after a rebound in property prices and the introduction of government measures to prevent excessive price swings.

Sales declined to 1,143 in September from a revised 1,804 units in August, according to data on the Urban Redevelopment Authority’s Web site today. That’s still almost three times the number of homes sold in the same period a year earlier.

Singapore’s home sales climbed to more than 13,000 in the first three quarters of the year, compared with the 4,300 sold for the whole of 2008, calculations by Bloomberg show. The increase in demand has already lifted home prices, with an index of private residential property prices surging 16% last quarter.

The so-called take-up rate for these projects may exceed the historical high of 14,800 units in 2007, while home prices have started to increase “significantly” since June, National Development Minister Mah Bow Tan said last month. The government has said it will push more sites to be sold and bar interest- only mortgages for uncompleted projects.

About 1,413 new units were offered for sale last month. The Interlace, a project jointly developed by CapitaLand and Hotel Properties sold about 243 of the 360 units offered at a median price of $1,047 a square foot, according to the government agency.

Source : The Edge – 15 Oct 2009

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