New private home sales down 23.6% in August

All new exclusive residence sales in Aug fell 23.6 percent to 1,215 flats (excluding exec condo) against One thousand Five hundred Ninety One units in Jul2021, indicated information published by the Urban Redevelopment Authority on Wednesday 15 September.

On a yearly comparison, all-new housing sales fell 3.4 %.

Forett at Bukit Timah Condo Price

Leonard Tay, Head of Research at Knight Frank S’pore, connected the downturn to a loss of brand-new commence.

Within Aug’s new release, The Watergardens At Canberra offered almost 60 % of its 4hundred 48 units, astride huge enhancing need from the HDB market. It came out as the best-selling residence in August, followed by Normanton Park, The Florence Residences, Midwood along with Treasure at Tampines.

On the best 10 listing are Dairy Farm Res, Parc Clematis, Leedon Green, The Jovell along with Avenue South Res.

Huttons Asia chief executive officer Mark Yip took note that regardless the Lunar Seventh Month, property developers still achieved to market beyond 1K apartments, which in turn was elevated compared to the exact same period last yr.

“Purchasers are perhaps in a lower degree bothered regarding committing to a residence transaction at the time of the Seventh Month these days,” he believed.

Removing executive condominiums, the Outside Central Region made up Fifty Nine point Three percentage of whole deals in August, while the RCR plus CCR made up Twenty Eight point Two percentage and 12.5 percent, specifically.

Based on the total purchases in August, Forty Seven point Five percent happen to be amount below $1.5 mil, Twenty Eight point Four % were among $1.5 million and $2 million, whereas Twenty Four point One percentage were greater than $2 million.

Singaporeans represented Eighty Five point Four % based on the transactions, whilst Permanent Residents plus immigrants comprised 10.5 percent and Four point One %, each.

Looking ahead of time, Leonard trusts all-new private residential property transactions are going to “pass over the 10K mark by year-end, and even is more than likely to make it 12K transactions for the full year”.

Mark also sees 12,000 new dealings for 2K21.

He noted that two new release are anticipated in Sept– Bartley Vue and also Jervois Mansion– while more kick off are arranged in the Quarter 4 of the year — namely, Belgravia Ace, Amber Sea, Canninghill Piers, Cairnhill 16, Perfect 10, Mori, and The Commodore.

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