{"id":110617,"date":"2019-09-10T10:19:34","date_gmt":"2019-09-10T03:19:34","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-condo-sales-jumped-30-6-in-q2\/"},"modified":"2019-09-10T11:06:14","modified_gmt":"2019-09-10T04:06:14","slug":"new-condo-sales-jumped-30-6-in-q2","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-condo-sales-jumped-30-6-in-q2\/","title":{"rendered":"New condo sales jumped 30.6% in Q2"},"content":{"rendered":"


\nWhile the number of new project launches more than doubled in Q2 to 16 from six in the previous quarter, the number of units from projects were significantly lower at around 2,700 units compared to the over 4,900 units from Q1.
\nSingapore saw new condo sales volume rose 30.6 percent quarter-on-quarter to 2,246 units in the second quarter of 2019, while resale volume climbed 18.2 percent to 1,966 units.
\nThis brings total sales volume for Q2 to 4,212 units or the highest since Q3 2018 when the government rolled additional cooling measures, revealed an Edmund Tie report.
\nThe property consultancy noted that while the number of new project launches more than doubled in Q2 to 16 from six in the previous quarter, the number of units from projects were significantly lower at around 2,700 units compared to the over 4,900 units from Q1.
\nAnd as developers released projects from collective sale sites acquired during 2017 to mid-2018, prices for these new units reflected the high land prices paid during the said period.
\nIn fact, the proportion of units priced below $1 million plunged to 24 percent of total new sales, while higher-priced units increased. Units costing above $1.5 million, for instance, increased to 35 percent of total new sales in Q2 from 25 percent in Q1.
\n\u201cThese higher prices mirrored the larger average unit size released for sale as well as buyers\u2019 preferences for such units,\u201d said the report.
\nEdmund Tie, however, noted that the unit price ranges for most resale units \u201cremained relatively unchanged quarter-on-quarter, except for an increase in proportion of resale and larger-sized units priced above $3 million rising from 8.0 to 11.0 percent in Q2\u201d.
\nIt added that the proportion of unit sales to foreigners rose one percentage point to six percent in Q2, even as the proportion of mainland Chinese buyers dropped to a low of 22 percent.
\nForeign property buyers preferred units within the core central region (CCR), with a hike in demand for units costing above $4 million in Q2.
\nSingaporeans and Singapore permanent residents, on the other hand, preferred properties within the rest of central region (RCR) and outside central region (OCR) \u201cas these group of buyers tend to be more price sensitive\u201d.
\nLooking ahead, Edmund Tie revealed that it remains cautiously optimistic of its outlook for the private housing market for H2 2019, with \u201cnew sales volume likely to achieve our forecast of 8,000 to 10,000 units in 2019, while prices are largely expected to stay stable with an upside of up to three percent\u201d.
\n\u201cWith new project launches expected to pick up in H2 2019 amid strong headwinds from a slowing local economy, ongoing trade tensions between mainland China and USA, Japan and Korea, and the political situation in Hong Kong, demand for non-landed units from foreign buyers may pick up, as Singapore is viewed as a safe investment haven despite the current property curbs.\u201d
\nCheck out PropertyGuru\u2019s\u00a0properties for rent!\u00a0Alternately, refer to our other\u00a0handy rental guides,\u00a0or read more about\u00a0the hottest areas to live in with PropertyGuru\u2019s AreaInsider.
\n\u00a0
\nVictor 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…New condo sales jumped 30.6% in Q2<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

While the number of new project launches more than doubled in Q2 to 16 from...<\/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-110617","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-sM9","jetpack-related-posts":[{"id":109248,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-condo-sales-expected-to-grow-by-33\/","url_meta":{"origin":110617,"position":0},"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. According to Singapore Business Review, the hike is expected to be led by new projects in the Rest\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118028,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-investment-sales-muted-in-q2-2020-but-buying-activity-to-increase-edmund-tie\/","url_meta":{"origin":110617,"position":1},"title":"Residential investment sales muted in Q2 2020, but buying activity to increase : Edmund Tie","date":"July 30, 2020","format":false,"excerpt":"\r Despite a muted market, the real estate consulting firm expects buying activity to increase, with new projects launching in the second half of 2020. The resale market is also expected to see stronger sales as viewings resume.\u00a0 Residential investment sales in Singapore were muted during the second quarter of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121031,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-hdb-resale-prices-increase-for-fifth-consecutive-quarter\/","url_meta":{"origin":110617,"position":2},"title":"Private home, HDB resale prices increase for fifth consecutive quarter","date":"July 23, 2021","format":false,"excerpt":"\r Private home and resale flat prices have continued to climb for the fifth straight quarter, as demand for properties continued to be strong in Q2 2021 despite the Phase 2 (Heightened Alert) measures.\u00a0 Singapore\u2019s housing market has continued to remain resilient amid the COVID-19 pandemic, with private home prices\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/Singapore-condo.original.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":120518,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-sector-dominates-investment-sales-for-q2-2021\/","url_meta":{"origin":110617,"position":3},"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":117944,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-prices-up-in-q2-while-transaction-volume-drop\/","url_meta":{"origin":110617,"position":4},"title":"HDB resale prices up in Q2, while transaction volume drop","date":"July 24, 2020","format":false,"excerpt":"\r Resale transactions fell by more than 41.9% to 3,426 units in Q2 2020 from the previous quarter\u2019s 5,893 units.\u00a0 Resale prices of Housing and Development Board (HDB) flats increased 0.3% quarter-on-quarter in the second quarter of 2020, after holding flat in the previous quarter. OrangeTee noted resale prices \u201chave\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111022,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-condo-prices-in-ccr-rose-10-5-in-q2\/","url_meta":{"origin":110617,"position":5},"title":"New condo prices in CCR rose 10.5% in Q2","date":"September 24, 2019","format":false,"excerpt":"\r This significant price hike of new home sales could be due to the increased demand for luxury homes during the period under review. Image source: OrangeTee The average price of new condominiums in the Core Central Region (CCR) rose 10.5 percent to $3,014 per square foot (psf) in the\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\/110617"}],"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=110617"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/110617\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=110617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=110617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=110617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}