December home sales slipped 54 per cent month on month

Singapore (15 January 2020) – The Urban Redevelopment Authority; (referred to as URA) published the latest figures show that in December last year, Singapore’s new home sales slipped 53.8 per cent month on month by month, the developer has sold only 538 houses below the revised November 1165 houses.

In 2018, with the same period last year, compared to December’s private sales have slipped 10.6 per cent year on year, the year before to private sales between 602. In December last year, he launched a total of 370 housing units last year, and is the lowest for the month.

He said the data did not include private executive condominium (Executive Condominium, referred to as EC) sales. If EC covered in December, China sold a total of 551 homes between units, compared to November 1186, less than half of the last December between 605 fell by 8.9 per cent.

According to data, the best selling private project is located in Fernvale Road known as Parc Botannia, a total of 49 homes has sold off units; And it was followed by Parc Esta located along Sims Avenue, a total of 45 had been sold to a private entity.

In December, there are many potential buyers had went on for their holiday, to the extent that housing relative to other industries are to be slightly low as compared to other months.

Real estate agency & Tie OrangeTee research and consulting director Christine Sun, “a lot of developers are postponed launch new buildings, for a market to buy gas up, usually at the end of the year after the holidays, you start a new year’s work, back to the market, developers will restart estate campaign.”

In the first half of new properties listed in 30 years
Overall, last year the real estate market is actually better than expected sales for the whole of 2018, which is expected to surpass 8795 deal. This is reflected in the US-China trade war, sluggish global growth prospects and certain areas such as geopolitical tensions macroeconomic challenges, in the context of Singapore real estate market is elastic.

Looking ahead, Christine said, in the first half of this year there have been about 30 properties listed on the new line, about 50 per cent of which are located in the core central region (Core Central Region; referred to as CCR), the rest of the building project is evenly spread across the other central (Rest Of Central Region; referred to as RCR) and numbers central region (Outside Central Region; referred to as OCR).

To that end, she is optimistic about this year’s housing demand will remain strong throughout the year, sales are expected to hover between 9,000 to 9800 set. She said, “most economists are considered the most severe economic storms may have been in the past, global growth is forecast to rebound, so expect the market buyer sentiment remains positive.”


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