New private home sales down 23.6% in August

Brand-new private residence transactions in Aug2021 fell Twenty Three point Six percentage to 1.215K flats (excluding executive condo) from 1.591K flats in Jul, revealed information published via the Urban Redevelopment Authority on Wed 15September.

On an annual basis, brand-new housing dealings fell Three point Four percent.

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Leonard Tay, Head of Research at Knight Frank SGP, attributed the decline to a shortness of latest launches.

Amidst August’s brand-new launches, The Watergardens closed nearly Sixty % of its Four hundred Forty Eight units, on the back of large advancing demand from the Housing and Development Board sector. The Watergardens became the number one residence in Aug, followed by Normanton Park, The Florence Residences, Midwood and Treasure at Tampines.

Additionally on the leading 10 record are Dairy Farm Res, Parc Clematis, Leedon Green, The Jovell and Avenue South Res.

Huttons Asia chief exec officer Mark Yip noticed that despite the Lunar Calendar Seventh Mth, property developers still achieved to sell over 1,000 flats, which in turn was higher measured up to the comparable time frame in ’20.

“Customers are quite possibly much less bothered concerning carrying out to a housing transaction during the 7th Month these days,” Mark mentioned.

Excluding ECs, the Outside Central Region accounted for Fifty Nine point Three percentage of entire sales in Aug, whilst the RCR plus CCR comprised Twenty Eight point Two % and Twelve point Five percentage, each.

Coming from the whole transactions in Aug 2021, Forty Seven point Five % were generally amount lesser than $1.5 mil, Twenty Eight point Four % were in between $1.5 million and $2 million, whilst 24.1 percentage were more than $2 million.

Singaporeans took into account Eighty Five point Four % out of the buys, whilst PRs plus foreigners composed Ten point Five % and 4.1 percentage, specifically.

Foreseeing, Tay believes all new exclusive housing transactions will “exceed the 10K aim by year-end, and even is greater than probably to hit 12K orders for the entire yr”.

Mark also views 12K latest transactions for 2K21.

He indicated that 2 new debut are looked for in Sept2021– Bartley Vue and Jervois Mansion– while a couple more launches are organized in the last quarter of 2021 — such as, Belgravia Ace, Amber Sea, Canninghill Piers, Cairnhill 16, Perfect 10, Mori, as well as The Commodore.

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