Estimate is down significantly from September’s 1,143
A BT poll this week of major developers as well as agents that marketed projects actively in October showed that about 660 private homes were sold in the primary market in October.
Developers reckon that, including other developments on the market, the total tally for primary market sales last month could come in at about 700-800 units – down significantly from the 1,143 private homes sold in September.
Developers’ monthly home sales peaked at 2,772 units in July this year, according to official data from Urban Redevelopment Authority. Its figures on developer sales for October will be released on Monday.
Market watchers noted that October was generally a quieter month, with developers launching fewer units as well as recording slower sales.
‘Things have become more cautious, after the constant messaging from the authorities advising home buyers that there’s no need to rush, that they should take their time and that there’ll be enough supply,’ said a property consultant who declined to be named.
Most developers would have sold fewer homes last month compared with September, unless they had released new projects during the month.
Far East Organization may possibly have sold the most homes last month. It told BT that it sold 173 private homes, more than double the September result of 78 units. Continue reading
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