15 Nov '17, 8am

Developer sales up 15% in October despite no major launches

Developer sales up 15% in October despite no major launches

Sophia Hills in Mount Sophia was the top-selling private residential project last month. UPDATED: Sales of new private homes excluding executive condominiums (ECs) rose 15.4 percent to 758 units in October from 657 in the previous month, according to data from the Urban Redevelopment Authority on Wednesday (15 November). However, developer sales fell 39.5 percent from the 1,253 units sold in October 2016 when Forest Woods and The Alps Residences were launched. Despite the lack of new major launches last month, analysts noted that the residential market remains buoyant. “There is a stronger sense of urgency amongst buyers as they are sensing that developers are likely to increase prices of existing projects in tandem to new project launches in 2018,” said Mohamed Ismail, CEO of PropNex Realty. Tricia Song, research head at Colliers International Singapore, noted that some b...

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

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