{"id":63788,"date":"2017-08-16T05:00:52","date_gmt":"2017-08-15T22:00:52","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/surging-developer-sales-point-to-further-property-market-recovery\/"},"modified":"2017-08-16T05:09:37","modified_gmt":"2017-08-15T22:09:37","slug":"surging-developer-sales-point-to-further-property-market-recovery","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/surging-developer-sales-point-to-further-property-market-recovery\/","title":{"rendered":"Surging developer sales point to further property market recovery"},"content":{"rendered":"


\nView of private homes in Singapore.
\nSales of new private homes in Singapore, including executive condominium (EC) units, almost doubled to 2,086 units in July from 1,064 units in the previous month, data released on Tuesday (15 August) by the Urban Redevelopment Authority showed.
\nFor the first seven months of 2017, developers sold 7,147 private units and 3,004 ECs, up 50 percent and 11.4 percent from the same period last year respectively.
\nAccording to analysts, this is further proof that the property market is on the road to recovery.
\n\u201cLikely, potential buyers have come to terms with the prevailing cooling measures, and recent information that a possible turn of the market in terms of pricing is here may have pushed pen to paper,\u201d said Desmond Sim, Head, CBRE Research, Singapore and South East Asia.
\nEugene Lim, Key Executive Officer at ERA Realty Network, shares a similar view. \u201cBuyers are anticipating the market recovery to happen in 2018, and choosing to make their purchase now in hopes of catching the market on its upswing,\u201d he said.
\nHe also feels that the revised Seller\u2019s Stamp Duty rule introduced in March, which reduced the holding period from four to three years, has made new projects a very attractive option for home buyers.
\nThe best-selling project last month was Hundred Palms Residences EC at Yio Chu Kang Road, which sold all 531 units within seven hours of its launch at a median price of $843 psf.
\nThis was followed by the 450-unit Martin Modern condominium in Robertson Quay, which moved 109 out of the 210 units released at a median price of $2,152 psf.
\nPreviously launched projects also reported good sales, with The Santorini, Symphony Suites and iNz Residence selling 82, 73 and 65 units respectively.
\nCBRE\u2019s Sim noted that the higher sales volume in July comes off the back of a marginal 0.1 percent quarterly price decline in Q2 2017 \u2013 the smallest drop seen in 15 quarters.
\nLooking ahead, Lim expects developers to capitalise on rising demand by launching their units in phases. These include recently launched projects such as Park Place Residences at Paya Lebar Quarter, Martin Modern and Le Quest in Bukit Batok.
\nFor the whole of 2017, ERA predicts total developer sales to be in the range of 10,000 to 12,000 units and EC sales of 3,500 to 4,000 units.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Surging developer sales point to further property market recovery<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

View of private homes in Singapore. Sales of new private homes in Singapore, including executive...<\/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-63788","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-gAQ","jetpack-related-posts":[{"id":70524,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sales-of-posh-high-rise-homes-to-grow-further\/","url_meta":{"origin":63788,"position":0},"title":"Sales of posh high-rise homes to grow further","date":"October 31, 2017","format":false,"excerpt":"\r Demand for upscale apartments located in high-rise buildings in prime locations here have risen over the past three and a half years, according to Leong Boon Hoe, CEO of List Sotheby\u2019s International Realty (LSIR), Singapore. Citing URA and LSIR data, he pointed out that sales of non-landed homes costing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76814,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-hit-4-year-high-in-2017\/","url_meta":{"origin":63788,"position":1},"title":"Private home sales hit 4-year high in 2017","date":"January 16, 2018","format":false,"excerpt":"\r Home sales in Singapore surged to 10,682 units for the whole of 2017. Private home sales in Singapore surged 34 percent to 10,682 units for the whole of 2017 compared to 7,972 units during the previous year, according to initial estimates from the Urban Redevelopment Authority (URA). As a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75058,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-predictions-for-2018\/","url_meta":{"origin":63788,"position":2},"title":"Property predictions for 2018","date":"December 21, 2017","format":false,"excerpt":"\r Private housing prices are likely to rise further in 2018, say analysts. Experts discuss the outlook for the residential market in Singapore. By Romesh Navaratnarajah With around 10,000 completed private homes and up to 22 major new launches expected next year, 2018 is shaping up as the year to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121510,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ocr-sells-record-397-new-homes-in-july-141-units-sold-above-2mil\/","url_meta":{"origin":63788,"position":3},"title":"OCR sells record 397 new homes in July, 141 units sold above $2mil","date":"August 18, 2021","format":false,"excerpt":"\r OCR sells record 397 new homes in July, 141 units sold above $2milSlightly more than a third (35.5%) of the OCR private home\u00a0shifted in July 2021 were sold for at least $2 million. The Outside Central Region (OCR) hits a new high in July, with the 397 new private\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/08\/condo-singapore-1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":95051,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-private-home-prices-rose-3-4-in-q2\/","url_meta":{"origin":63788,"position":4},"title":"Singapore private home prices rose 3.4% in Q2","date":"July 30, 2018","format":false,"excerpt":"\r The price growth in Q2 was slightly slower than the 3.9 percent increase in Q1.\u00a0 Singapore private home prices rose 3.4 percent quarter-on-quarter in Q2 2018 compared to a slightly faster growth of 3.9 percent in Q1, according to more complete data released by the Urban Redevelopment Authority (URA)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100000,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sept-private-home-sales-buoyed-by-new-launches\/","url_meta":{"origin":63788,"position":5},"title":"Sept private home sales buoyed by new launches","date":"October 17, 2018","format":false,"excerpt":"\r Artist\u2019s impression of Mayfair Gardens, a high-end condo in Bukit Timah. The recovery of private home sales in September could be due to more developments being launched that may have spurred demand, according to a new report from OrangeTee & Tie. Some major launches include JadeScape, Mayfair Gardens, 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\/63788"}],"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=63788"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/63788\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=63788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=63788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=63788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}