{"id":107630,"date":"2019-05-31T10:31:18","date_gmt":"2019-05-31T03:31:18","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-inch-up-0-1-in-q1\/"},"modified":"2019-05-31T11:03:26","modified_gmt":"2019-05-31T04:03:26","slug":"private-home-sales-inch-up-0-1-in-q1","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-inch-up-0-1-in-q1\/","title":{"rendered":"Private home sales inch up 0.1% in Q1"},"content":{"rendered":"


\nOverall, 1,838 new private housing units were sold in Q1 2019.
\nWith developers ramping up their launches, Singapore saw a total of 2,989 uncompleted private homes launched for sale in the first quarter of 2019, up 80.4 percent from the previous quarter, reported Singapore Business Review citing Savills Research.
\nOf these, about 50 percent were from new 13 projects.
\nThe number of new units launched in the Core Central Region (CCR) nearly doubled to 363 in Q1 2019 from 182 in Q4 2018. This comes as five of the 13 new projects are in the CCR.
\nThe volume of units launched in the Outside Central Region also soared 202 percent quarter-on-quarter to 1,689, primarily from two large-scale new launches \u2013 Treasure At Tampines and The Florence Residences.
\nConsequently, sales volume in the CCR and OCR surged 115.7 percent and 41.5 percent quarter-on-quarter to 192 units and 1,009 units, respectively. The Rest of Central Region, on the other hand, saw the number of new units sold drop 38.4 percent to 637.
\nOverall, the city-state saw 1,838 new private housing units sold in Q1 2019, up 0.1 percent from the previous quarter.
\nThe 2,203-unit Treasure at Tampines emerged as the top selling project island-wide.
\n\u201cFrom the time this project launched in March, 289 units were sold at an average price of about $1,3371 psf,\u201d said Savills Singapore CEO Marcus Loo.
\nHe noted that while sales at some pre-launched projects were buoyed by higher commissions as well as news of the upcoming first phase development of the Cross Island Line, take-up rates for newly launched projects in the RCR and OCR eased.
\nRCR posted an initial take-up rates of 13.5 percent in Q1 2019, down from the 27.4 percent registered in the period 6 July to 31 December 2018 or after the cooling measures.
\nOCR also recorded a take-up rate of 7.6 percent, also down from the 17.4 percent seen from 6 July to 31 December 2018.
\nMeanwhile, the take-up rate in the CCR stood at 13.2 percent in Q1 2019, up from 9.1 percent in the 6 July to 31 December 2018 period.
\n\u201cPent-up demand from the high net wealth class for prime-quality units, such as those at Boulevard 88, is likely to have been the reason for the uptick in new sale take-up rates in Q1 2019,\u201d said Loo.
\n\u201cConcurrently, prices for such properties are more resilient compared with those in the other market segments and more inelastic to their buyers, such as high net worth individuals.\u201d
\nThinking of buying a new property in Singapore? Enjoy savings of up to $300,000 during our GuruDeals promo. Offer is valid until 15 July only, so hurry now!<\/p>\n

Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Private home sales inch up 0.1% in Q1<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Overall, 1,838 new private housing units were sold in Q1 2019. With developers ramping up...<\/p>\n","protected":false},"author":1,"featured_media":107631,"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-107630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/05\/PGSG_Consumer_GuruDeals_In-house_Content_Banner-1-1.jpg?fit=728%2C120&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rZY","jetpack-related-posts":[{"id":120518,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-sector-dominates-investment-sales-for-q2-2021\/","url_meta":{"origin":107630,"position":0},"title":"Residential sector dominates investment sales for Q2 2021","date":"July 14, 2021","format":false,"excerpt":"\r 7,267 units in the residential sector changed hands in Q2 2021. The residential sector accounted for 56% of the total property investment sales at $3 billion. Property investment sales in Singapore increased 15.4% quarter-on-quarter to $5.48 billion in the second quarter of 2021, with the residential sector accounting for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/HDB-flats-in-Ghim-Moh.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":122568,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/demand-for-private-homes-remain-strong-in-q3\/","url_meta":{"origin":107630,"position":1},"title":"Demand for private homes remain strong in Q3","date":"October 13, 2021","format":false,"excerpt":"\r Despite fewer projects launched in Q3 2021,\u00a0there were 3,358 new sale transactions, up from 2,838 in Q2 2021. 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Urban Redevelopment Authority\u2019s (URA) flash estimates showed that private home prices fell 1.2% quarter-on-quarter in Q1 2020, \u201cgiving back almost half of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109248,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-condo-sales-expected-to-grow-by-33\/","url_meta":{"origin":107630,"position":3},"title":"New condo sales expected to grow by 33%","date":"July 23, 2019","format":false,"excerpt":"\r Edmund Tie and Company expects new condo sales volume to increase by 33 percent year-on-year to 2,300 units in the second quarter of 2019, compared to the previous quarter\u2019s 1,739 units. 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