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— ST PHOTO: ALPHONSUS CHERN
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Number of new private homes sold may hit 2007 record but value only half
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VALUE OF NEW HOME SALES
VALUE OF NEW HOME SALESPROPERTY developers here appear set to sell at least as many new homes this year as in the record year of 2007.
But the total value of these new private homes is on track to be only about half of that two years ago, underlining how different the two property booms have been.
This shift is partly thanks to a dramatic rise in sales of smaller, mass market units, says a new analysis by CBRE Research.
The running total for units sold in the first three quarters of this year is 12,828 compared to 2007’s 14,811 – so even average sales for the final three months will take this year’s total close to that of 2007. Continue reading
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