Sunday, April 1, 2012

Q1 sales of new private homes may hit 5,200 units

Business Times: Sat, Mar 31
DEVELOPERS' sales of new private homes this quarter could reach 5,200 units - the second-highest level since the 5,578 units sold in Q3 2009, according to estimates from CBRE.


Some market watchers point out that with 4,285 units sold in January and February, based on data from the Urban Redevelopment Authority compiled from monthly declarations by developers, the final tally for this quarter which ends today (Saturday), could even surpass the previous record.


In Q4 last year, the figure was 3,603 units.


The above numbers exclude executive condominiums (ECs), a public-private housing hybrid.


Among the latest projects to be released is Natura, a 10-storey freehold residential project at Hillview Terrace priced at about $1,250 psf on average. The development, which went on the market this week, features smaller-than-usual units, with a three-bedder starting at 635 sq ft.


Commenting on the sales tally for Q1, CBRE executive director Li Hiaw Ho said: 'This is the first time since the previous peak in Q3 2009 that the sales volume has exceeded 5,000 units in one quarter. It has been averaging 4,000 units each quarter for the past few years. This increase in sales is due in large part to the slew of projects featuring compact apartments that have flooded the market in recent years.'...

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