Tag Archives: Elliot At The East Coast

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.

RELATED LINKS   SLIDING SALES

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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Hundred Trees defies market chill elsewhere

Posted on 29 Sep 2009 | Comments Off on Hundred Trees defies market chill elsewhere

Almost 80 per cent of the units in Hundred Trees have been snapped up ahead of the condo’s formal launch this weekened.

City Developments Ltd (CDL) sold a whopping 316 units last week at its Hundred Trees condo in the West Coast, a quarter of them on interest absorption scheme (IAS). Demand for most other projects, however, seemed to falter.

‘Hundred Trees is amongst the last few developments where buyers may opt for IAS,’ CDL noted in its press release yesterday. The developer has raised the 956-year leasehold condo’s average price from $895 psf initially to about $910 psf. Those who buy on IAS pay a 2.5 per cent price premium.

It was a different story elsewhere as house-hunters ponder the implications of the Sept 14 measures by the government to cool the market. These include scrapping IAS and restarting confirmed list government land sales in first half 2010.

One property consultant even hazarded a guess that ‘a pull-back in demand of 10 per cent is not unrealistic’.

BT understands that CapitaLand and its partners last week sold fewer than 20 units at The InterLace condo which will be developed on the Gillman Heights site, after selling 233 units the preceding week. No IAS is being offered for the 99-year leasehold condo. Continue reading →

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