{"id":82775,"date":"2018-03-15T15:49:52","date_gmt":"2018-03-15T08:49:52","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-sales-down-28-in-feb\/"},"modified":"2018-03-15T16:02:59","modified_gmt":"2018-03-15T09:02:59","slug":"developer-sales-down-28-in-feb","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-sales-down-28-in-feb\/","title":{"rendered":"Developer sales down 28% in Feb"},"content":{"rendered":"


\nLocated near Queenstown MRT station, Queens Peak was the top-selling private condo last month.
\nSales of new private homes, excluding executive condominiums (ECs), dropped by 28 percent in February 2018 to 377 units from 524 in the previous month, according to latest data from the Urban Redevelopment Authority (URA) on Thursday (15 Mar).
\nThe figure is down 61.5 percent from the same period last year when 979 units were sold.
\nAnalysts were not surprised by the drop in transactions, which is the lowest recorded since 367 units were sold in December 2016.
\n\u201cIf we compare February 2018 with January 2017, both Lunar New Year months, there is some similarity in the low key launches and sales,\u201d said Ong Teck Hui, national director of research & consultancy at JLL.
\nThe property consultancy noted that 186 units were launched last month versus 108 units launched and 382 units sold in January 2017. \u201cSo the low key performance in February is not indicative of a market slowdown,\u201d said Ong.
\nIn fact, several existing projects still managed to draw buyers. The top performer was Queens Peak near Queenstown MRT station, which sold 47 units at a median price of $1,730 psf. This was followed by Kingsford Waterbay at Upper Serangoon and Artra in Alexandra, which moved 34 and 30 units at $1,349 psf and $1,726 psf respectively.\u00a0
\nOng expects the market to pick up from March as developers resume project sales and more buyers return to the market after the festive lull.
\nUpcoming launches include The Tapestry at Tampines Avenue 10, Park Place Residences at Paya Lebar Quarter and Rivercove Residences \u2013 the only EC launch for the whole of 2018.
\nDeveloped by City Developments Limited, The Tapestry held its showflat preview on 10 March and bookings are scheduled for 24 March.
\n\u201cStrong interest has been observed at the showflat on the opening weekend, and it is expected to be well-received by buyers,\u201d said Eugene Lim, key executive officer at ERA Realty.
\nFor the whole of 2018, Lim forecasts total developer sales to reach 12,000 to 14,000 units, up 13 percent from last year.
\nCheck out our review of Queens Peak, or view other\u00a0project reviews!
\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…Developer sales down 28% in Feb<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Located near Queenstown MRT station, Queens Peak was the top-selling private condo last month. Sales...<\/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-82775","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-lx5","jetpack-related-posts":[{"id":48292,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-up-155-8-in-feb\/","url_meta":{"origin":82775,"position":0},"title":"New private home sales up 155.8% in Feb","date":"March 16, 2017","format":false,"excerpt":"\r The Clement Canopy was the only private condo launch in February. (Photo: UOL Group) Even with only one new project launch, the number of private residential units (excluding ECs) sold by developers rose 155.8 percent to 977 units in February 2017 from 382 in the previous month. On a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93451,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-home-sales-to-drop-15-20-in-2018\/","url_meta":{"origin":82775,"position":1},"title":"New home sales to drop 15-20% in 2018","date":"July 9, 2018","format":false,"excerpt":"\r Image source: Logan Property (Stirling Residences) The government\u2019s latest property curbs that took effect on Friday (6 July) is expected to reduce new private home sales by 15 percent to 20 percent year-on-year for the whole of 2018, reported Singapore Business Review. According to Colliers International, the overall tally\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":44304,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-home-sales-up-17-6-from-year-ago\/","url_meta":{"origin":82775,"position":2},"title":"New home sales up 17.6% from year ago","date":"February 16, 2017","format":false,"excerpt":"\r Analysts expect more sales activity in the primary market this year.\u00a0 Despite the lack of new project launches, developers sold 381 private residential units in January, excluding executive condominiums (ECs), according to latest data from the Urban Redevelopment Authority (URA). This is up 3.8 percent from the 367 units\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52167,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-soared-81-8-in-march\/","url_meta":{"origin":82775,"position":3},"title":"Private home sales soared 81.8% in March","date":"April 18, 2017","format":false,"excerpt":"\r New private homes saw stronger sales since Total Debt Servicing Ratio was introduced. \u00a0 Developers saw new private home sales soar 81.8 percent to 1,780 units in March from 979 units in February. \u00a0 On an annual basis, private home sales surged 111.2 percent from the 843 units sold\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110797,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-remain-strong-in-august\/","url_meta":{"origin":82775,"position":4},"title":"Private home sales remain strong in August","date":"September 16, 2019","format":false,"excerpt":"\r Urban Redevelopment Authority\u2019s (URA) Realis data showed that developers sold 1,122 new homes in August, excluding executive condominiums (ECs). Including ECs, developers moved 1,167 units. Private home sales volume appeared to remain robust in August, despite it being a typically slow sales month. \u201cDemand in August seemed to have\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":105119,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-up-4-4-as-developers-offer-higher-agent-commissions\/","url_meta":{"origin":82775,"position":5},"title":"Private home sales up 4.4% as developers offer higher agent commissions","date":"March 18, 2019","format":false,"excerpt":"\r The prospect of the Cross Island Line may have also boosted sales at projects situated near upcoming stations. Despite 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\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\/82775"}],"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=82775"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/82775\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=82775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=82775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=82775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}