07 Nov '17, 3am

En bloc sales soars by over 4-fold, says MND

An aerial view of Rio Casa, a 286-unit development at Hougang Avenue 7. (Photo: Knight Frank Singapore) Collective sales have surged from around 600 units for the whole of 2016 to about 2,700 existing private homes so far this year, revealed the Ministry of National Development (MND) during a parliamentary session on Monday (6 November). MND thinks that the strong sales growth is due to two primary factors. “First, more developers are keen to replenish their land banks. There has been a healthy increase in the sales of new units in the first three quarters of the year, which in turn means that the unsold supply in the pipeline has come down. To illustrate, there are about 17,200 units as at Q3 2017, down from about 40,000 units in 2012. “ “Second, successful en-bloc sales in 2016 may have encouraged more owners of ageing residential projects to initiate the en-bloc sale pr...

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

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