{"id":113120,"date":"2019-12-17T11:55:04","date_gmt":"2019-12-17T04:55:04","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/higher-private-home-sales-recorded-in-november-despite-property-overhang\/"},"modified":"2019-12-17T12:03:13","modified_gmt":"2019-12-17T05:03:13","slug":"higher-private-home-sales-recorded-in-november-despite-property-overhang","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/higher-private-home-sales-recorded-in-november-despite-property-overhang\/","title":{"rendered":"Higher private home sales recorded in November despite property overhang"},"content":{"rendered":"


\nSengkang Grand Residences was the best-selling condo in November 2019.
\nSales of new private homes in November picked up significantly amid a property glut and despite the beginning of the year-end holiday period, reported The Straits Times.
\nExcluding executive condominiums (ECs), developers moved 1,147 units in November\u00a0\u2013 a 23.2% increase compared to October. However, this is still 4.5% lower than in November 2018, Urban Redevelopment Authority (URA) data showed.\u00a0
\nIncluding ECs, there were 1,168 units sold, which is a 21.9% rise from October but still 3% lower compared to a year ago.
\nThe take-up last month was mostly influenced by projects in the suburban areas of the Outside Central Region (OCR) with 608 sales, followed by 351 units located in the Rest of Central Region (RCR), and lastly 188 units in the Core Central Region (CCR).
\nHigher sales despite fewer launches
\nDevelopers last month launched 740 private homes for sale, a 17% drop from October and a 44.9% decrease compared to the 1,342 launched in November 2018. No ECs were launched for sale last month.
\nExcluding ECs, 9,547 out of 10,751 units launched have been sold this year. This figure exceeds the 8,795 units sold for the whole of 2018.
\nRELATED:\u00a0Presenting The Singapore Property Market Outlook 2020
\nExperts: Mortgage rates might be lower next year, which could cause more demand
\n\u201cWe estimate that between 9,500 and 10,000 units could be sold this year. We anticipate that the next wave of inbound capital may continue to enter Singapore\u2019s property market next year with more Chinese capital flowing south,\u201d said Christine Sun, OrangeTee & Tie head of research.
\nShe added that mortgage rates might stay low or go even lower next year, which would assist housing demand to \u201ccruise\u201d at present levels.
\n\u201cAs such, we estimate that between 9,000 and 9,800 new homes, excluding ECs, could be transacted in 2020.\u201d
\nDesmond Sim, CBRE head of research for South-east Asia, said 51 projects have so far been launched this year \u2013 the largest for the past five years.
\nHe explained that developers are seen focusing on clearing existing inventories while staying prudent in land bidding, as a majority of the new launches this year have only had a take-up of less than 50%.
\nURA data for last month also shows that there are 4,375 newly launched private residential units that remain unsold, with the figure rising to 4,748 if ECs are to be included.
\nSource: Colliers InternationalSource: Colliers International
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\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…Higher private home sales recorded in November despite property overhang<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Sengkang Grand Residences was the best-selling condo in November 2019. Sales of new private homes...<\/p>\n","protected":false},"author":1,"featured_media":113121,"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-113120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/12\/Top-10-Selling-Condos-In-November-Colliers-International.png?fit=1076%2C790&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-tqw","jetpack-related-posts":[{"id":74766,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-to-cool-down-in-dec-jan\/","url_meta":{"origin":113120,"position":0},"title":"Private home sales to cool down in Dec, Jan","date":"December 18, 2017","format":false,"excerpt":"\r Parc Botannia is a 99-year leasehold condominium development located at Fernvale Rd in District 28. Excluding executive condominiums (ECs), private home sales in Singapore slightly increased to 785 units in November compared to 760 units in the prior month, according to data from the Urban Redevelopment Authority (URA). On\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123862,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-up-70-in-november\/","url_meta":{"origin":113120,"position":1},"title":"New private home sales up 70% in November","date":"December 17, 2021","format":false,"excerpt":"\r CanningHill Piers was the best performing project in November, moving 576 units at a median price of $2,887 psf. New private home sales in Singapore continued in an upward trend, increasing 70% in November from the previous month. Excluding executive condominiums (ECs), developers sold 1,547 units in November, up\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/condominium-singapore.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":123274,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-private-home-sales-increase-9-in-october\/","url_meta":{"origin":113120,"position":2},"title":"Singapore private home sales increase 9% in October","date":"November 17, 2021","format":false,"excerpt":"\r Singapore private home sales increase 9% in OctoberIn October 2021, new private home sales in Singapore (excluding ECs) increased to 909 units, up from 834 units in September.\u00a0 New private home sales in Singapore, excluding executive condominiums (ECs), increased 9% month-on-month to 909 units in October, after registering two\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/singapore-prime-district.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":117830,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-soar-104-9-in-june-2020\/","url_meta":{"origin":113120,"position":3},"title":"New private home sales soar 104.9% in June 2020","date":"July 16, 2020","format":false,"excerpt":"\r New private home sales surged after the lifting of the circuit breaker measures. Photo: Treasure at Tampines was the best-selling project in June.\u00a0 Sales of new private homes in Singapore more than doubled in June from May, hitting the highest monthly sales since November 2019 and the highest June\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101326,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-down-48-in-oct\/","url_meta":{"origin":113120,"position":4},"title":"New private home sales down 48% in Oct","date":"November 16, 2018","format":false,"excerpt":"\r 10 Evelyn in Newton was the only residential project launched last month. Excluding executive condominiums (ECs), private home sales declined by almost 48 percent to 487 units in October compared to 932 units in the month before. On an annual basis, sales fell by 36 percent from 761 units,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71879,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-sales-up-15-in-october-despite-no-major-launches\/","url_meta":{"origin":113120,"position":5},"title":"Developer sales up 15% in October despite no major launches","date":"November 15, 2017","format":false,"excerpt":"\r Sophia Hills in Mount Sophia was the top-selling private residential project last month. Sales of new private homes excluding executive condominiums (ECs) rose 15.4 percent to 758 units in October from 657 in the previous month, according to data from the Urban Redevelopment Authority on Wednesday (15 November). However,\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\/113120"}],"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=113120"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/113120\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/113121"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=113120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=113120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=113120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}