Friday, February 15, 2013

New home sales not affected by cooling measures

Feb 15, 2013 -

The recently imposed cooling measures have not dampened the sales of new private homes, with Singapore recording an increase of 43 percent hike over December’s figures of 1,410.

This is an 8% rise compared to January last year when Additional Buyer's Stamp Duty (ABSD) measures were a recent announcement.

Sales volume was up 0.4% from last month and recorded 2,269 new private homes, including Executive Condominiums being sold.

Developers, however, launched fewer new homes in January, with 1,799 new units been released as compared to the 2,225 released the previous month.

Three projects recorded sales above 250 units, with LA Fiesta, Q Bay Residences and D’Leedon recording spectacular sales of 404, 372 and 263 units, with median p.s.f prices of $1,163, $1,102, and $1,406, respectively.

However, a drop in sales volumes of Executive Condominiums (EC) were recorded with only 256 units being sold in January, compared to 849 in December. The Topiary, an Executive Condominium(EC), recorded sales of 100 units at a median price of $736 p.s.f.

PropertyGuru’s Regional Analyst, Tejaswi Chunduri, said: “January's high sales figures, despite the recent measures, is indicative of the robust demand existing in the market. Probably home buyers were attracted by the variety of discounts offered by the developers here.”

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C

Senior Sales Director
DTZ Property Network Pte Ltd (L3007960A)

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