15 Aug '17, 10pm

Surging developer sales point to further property market recovery

View of private homes in Singapore. Sales of new private homes in Singapore, including executive condominium (EC) units, almost doubled to 2,086 units in July from 1,064 units in the previous month, data released on Tuesday (15 August) by the Urban Redevelopment Authority showed. For the first seven months of 2017, developers sold 7,147 private units and 3,004 ECs, up 50 percent and 11.4 percent from the same period last year respectively. According to analysts, this is further proof that the property market is on the road to recovery. “Likely, potential buyers have come to terms with the prevailing cooling measures, and recent information that a possible turn of the market in terms of pricing is here may have pushed pen to paper,” said Desmond Sim, Head, CBRE Research, Singapore and South East Asia. Eugene Lim, Key Executive Officer at ERA Realty Network, shares a similar...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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