30 May '13, 4am

Private home sales to fall in 2013, says report: By Romesh Navaratnaraja... property market

May 30, 2013 - PropertyGuru.com.sg Comment E-mail to friend Bookmark & Share By Romesh Navaratnarajah : Primary private home sales this year will moderate to between 15,000 and 18,000 units from last year’s 22,197, according to DTZ Research. But total developer sales could still be higher than the 15,000 to 16,000 units sold in 2010 and 2011, as developers try to launch more projects to avoid the increased competition from the substantial completions this year. As of end-Q1, the Urban Redevelopment Authority (URA) estimates that around 14,000 units will likely be completed for the remainder of 2013. This is on top of the 35,000 units yet to be launched and sold, of which about 10,000 have received pre-requisites for sale but are yet to be launched. The government’s cap on the number of units in residential developments could result in a decline in sales of shoebox units, w...

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

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