Category Archives: Property Market / Real Estate

Outside Central Region (OCR) units most sought after in August

Posted on 18 Sep 2014 | Comments Off on Outside Central Region (OCR) units most sought after in August

Sales in the Outside Central Region (OCR) made the greatest contribution to new home sales in August, according to an OrangeTee report.

Sales in the OCR totalled 223 units making up 51.6 percent, while sales in Core Central Region (CCR) went down to 44 units and the Rest of Central Region (RCR) also dipped to 165 units, translating to 10.2 percent and 38.2 percent respectively.

“In August, the aggregate number of sales eased 42.9 percent, compared with the same period of last year.”

The report also noted the bestselling project in August was The Panorama , which sold 40 units out of 54 units launched at a median price of $ 1,249 psf.

Best-selling projects in August 2014

Located at Ang Mo Kio, the 698-unit residential project is developed by Wheelock Properties Singapore and will be ready in 2019. The project is near CHIJ St Nicholas’ Girls School and is a short walk away from the upcoming Mayflower MRT station on the Thomson-East Coast Line.

Coco Palms in Pasir Ris was in second place, selling 23 units out of 30 units launched at a median price of $1,046 psf. “Noticeably, this development has seen quite decent monthly sales so far this year,” the report added.

The 944-unit project by City Developments Limited is slated to be ready in 2019.

Image source: thepanorama.org

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September sales expected to spike

Posted on 17 Sep 2014 | Comments Off on September sales expected to spike

While last month’s new private home sales continued to weaken, new sales volume in September is expected to improve from July and August 2014, according to analysts.

For instance, OrangeTee expects sales volumes to be around 750 units to 850 units for September.

The market is likely to experience more deals soon, as anticipated projects such as Highline Residences, and 70 St Patrick’s are expected to launch in September while Marina One is expected to launch in early October.

According to media reports, Highline Residences by Keppel Land has sold over 80 percent of the first 160 units, and Marina One by M+S has also received good response during its private viewing last weekend. Kemmy Tan, CEO at M+S said to PropertyGuru, “Interest has been strong with over 800 visitors to our show gallery over the weekend.”

Alice Tan, Director & Head of Research at Knight Frank Singapore, said, “Developers are also likely to intensify efforts to launch projects with attractive offers to boost sales performance in view of a traditionally quiet year-end period ahead.”

She added, “Buying sentiment for new launches is likely to remain fairly muted in light of the current cooling measures.”

As 2014 approaches its last quarter, analysts believe new private home sales volume for the year is likely to hover around 8,000 to 9,000 units, falling just short of the 10,000-unit mark.

Additionally, PropNex CEO Mohamed Ismail Gafoor expects a cloud of stillness will continue to hang over the high-end segment. “The spotlight will be on more affordable mass and mid-tier market segments. The outlook for the private residential market will continue to be dismal for the rest of 2014 so long as the cooling measures and the TDSR framework remain in their current form,” he said.

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