{"id":105119,"date":"2019-03-18T10:52:37","date_gmt":"2019-03-18T03:52:37","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-up-4-4-as-developers-offer-higher-agent-commissions\/"},"modified":"2019-03-18T11:02:58","modified_gmt":"2019-03-18T04:02:58","slug":"private-home-sales-up-4-4-as-developers-offer-higher-agent-commissions","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-up-4-4-as-developers-offer-higher-agent-commissions\/","title":{"rendered":"Private home sales up 4.4% as developers offer higher agent commissions"},"content":{"rendered":"


\nThe prospect of the Cross Island Line may have also boosted sales at projects situated near upcoming stations.
\nDespite the absence of new launches and the Lunar New Year festive lull, developers sold 455 homes in February, up 4.4 percent from January and 18.5 percent higher over the same period last year, reported the Business Times.
\nThis comes as property agents at certain projects such as The Garden Residences, Affinity at Serangoon and The Tre Ver were offered average commission rates of more than three percent.
\nSEE ALSO:\u00a0The complete guide to buying a new launch condo in Singapore
\nThe rate is relatively higher compared to the usual 1.6 to two percent commissions that agents receive for new launches.
\n\u201cMany developers have\u2026 raised commissions to incentivise agents to boost their selling efforts amidst growing competition for buyers,\u201d said OrangeTee & Tie head of research and consultancy Christine Sun.
\nThe prospect of the Cross Island Line may have also boosted sales at projects situated near upcoming stations.
\n\u201cProjects in Serangoon continued to ride on the positive buying sentiment arising from the announcement of stations on the Cross Island Line,\u201d noted Huttons Asia head of research, Lee Sze Teck. The Garden Residences and Affinity at Serangoon are some of the projects located near the upcoming Serangoon North station.
\nIn February, developers launched 596 private homes, of which 430 were in the Outside Central Region (OCR), 141 in the Rest of Central Region (RCR) and 25 in Core Central Region (CCR).
\nAffinity at Serangoon emerged as the top-selling project, with 88 units sold at a median price of $1,494 psf, followed by Riverfront Residences, which moved 49 units at a median price of $1,322 psf.
\nIncluding executive condominiums (ECs), developers sold 457 units last month, a 4.6 percent improvement from January, but four percent lower than from the previous year.
\nPropNex Realty CEO Ismail Gafoor believes the sales figure for February \u201creflects an indication of the presence of inherent demand and resilience, particularly for new projects that have been previously launched\u201d.
\nMoving forward, a number of new launches are expected for this year, including two major launches for this month \u2013 namely the 2,203-unit Treasure at Tampines and the 1,410-unit The Florence Residences in Hougang.
\nThe sales performance of Treasure at Tampines is expected to be keenly watched as it is one of the most attractively priced projects.
\n\u201cA solid sales number will likely boost the buying sentiment for the entire residential market, paving the way for better sales this year,\u201d said Christine Sun, head of research and consultancy at OrangeTee & Tie.
\nCan you afford a condo in Singapore? Check your\u00a0affordability\u00a0now.\u00a0Get more details on the\u00a0property market outlook for 2019
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Private home sales up 4.4% as developers offer higher agent commissions<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The prospect of the Cross Island Line may have also boosted sales at projects situated...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-105119","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rlt","jetpack-related-posts":[{"id":109844,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-offer-fatter-commissions-for-less-ideal-units\/","url_meta":{"origin":105119,"position":0},"title":"Developers offer fatter commissions for less ideal units","date":"August 13, 2019","format":false,"excerpt":"\r In a bid to move harder to sell units, such as those with less attractive facing or ground-floor units, some developers incentivise property agents by offering higher commissions.\u00a0 Developers may also give out incentives or a cash bonus once the choice units are sold, reported The Business Times. \u201cIt\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120189,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-probes-into-agents-commission-rates\/","url_meta":{"origin":105119,"position":1},"title":"URA probes into agents\u2019 commission rates","date":"February 5, 2021","format":false,"excerpt":"\r URA probes into agents\u2019 commission ratesThe move comes amid a hike in commissions as well as market speculation of new\u00a0cooling measures\u00a0as residential property prices continue to increase despite economic woes. The Urban Redevelopment Authority (URA) has queried housing developers on the latest commission rates they pay property agents to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/02\/property-agent-house-and-keys.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":106676,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-prices-to-hold-steady-despite-property-cooling-measures\/","url_meta":{"origin":105119,"position":2},"title":"Home Prices To Hold Steady Despite Property Cooling Measures","date":"April 29, 2019","format":false,"excerpt":"\r Darren Teo, head of research at Edmund Tie and Company, believes that residential property prices will remain firm even with the latest cooling measures in place. Despite last year\u2019s property cooling measures, Edmund Tie and Company expects residential property prices to remain relatively stable.\u00a0 Prior to the latest cooling\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97688,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-is-the-most-lucrative-job-in-the-worlds-costliest-property-market-a-sales-agent-of-course\/","url_meta":{"origin":105119,"position":3},"title":"What is the most lucrative job in the world\u2019s costliest property market? A sales agent, of course","date":"September 12, 2018","format":false,"excerpt":"\r It\u2019s a great time to be a Hong Kong property agent. In some cases, developers are paying more than double their usual 3 per cent agent commission for selling a flat, as they get aggressive in paying agents to drum up sales. The step signals the growing eagerness of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8190,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propnex-bucks-trend-with-200m-in-commissions\/","url_meta":{"origin":105119,"position":4},"title":"PropNex bucks trend with $200m in commissions","date":"March 9, 2016","format":false,"excerpt":"\r Mohamed Ismail, CEO of PropNex Realty. (Photo: PropNex) Despite Singapore\u2019s sluggish property market, PropNex Realty saw gross commissions soar to a record high of $200 million in 2015, while transaction volume surpassed 40,000 for the first time. In a statement, the real estate agency said its strong financial results\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":50852,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developers-to-launch-more-flats-to-cash-in-on-rising-demand\/","url_meta":{"origin":105119,"position":5},"title":"Hong Kong developers to launch more flats to cash in on rising demand","date":"April 4, 2017","format":false,"excerpt":"\r Hong Kong\u2019s developers will accelerate the sales launches of new apartments, taking their cues from the higher-than-expected demand for housing property in the past two weeks. As many as 7,900 apartment units in 20 new projects are scheduled for launch in the second quarter, according to data gathered by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/105119"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=105119"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/105119\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=105119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=105119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=105119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}