{"id":94039,"date":"2018-07-17T10:01:49","date_gmt":"2018-07-17T03:01:49","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-down-41-7-in-june\/"},"modified":"2018-07-17T18:03:11","modified_gmt":"2018-07-17T11:03:11","slug":"private-home-sales-down-41-7-in-june","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-down-41-7-in-june\/","title":{"rendered":"Private home sales down 41.7% in June"},"content":{"rendered":"


\nImage: Riverfront (Source: Christopher Chitty)
\nDevelopers sold 654 private homes (excluding executive condominiums) in June, down 41.7 percent from the 1,122 units sold in May and 20.2 percent lower over the same period last year.
\nColliers International research head for Singapore Tricia Song said it is the lowest monthly transaction figure since February 2018, when only 384 units were sold.
\nHowever, Cushman & Wakefield senior director for research Christine Li noted that new home sales in June tend to \u201cfall slightly due to the June school holidays, where buying activity slows and home buyers go on holiday. As such, developers tend to hold back launches during this period, leading to lower volumes\u201d.
\nSong noted that prospective buyers may have also taken a more circumspect approach to home hunting in June, possibly avoiding pricier units.
\nThe number of private homes launched in June fell 31.5 percent to 726 from 1,060 units in May.
\nThe top five selling private residential projects for the month were Margaret Ville (with 121 units sold), Affinity at Serangoon (107 units), The Garden Residences (64 units), Twin Vew (64 units) and 120 Grange (42 units).
\nSong attributed the weaker sales at the two neighbouring projects Affinity at Serangoon and The Garden Residence to their benchmark pricing of over $1,500 per sq ft in the Serangoon North enclave.
\nLooking ahead, analysts expect new home sales in July to surpass that of June.
\nThis comes as the last minute launches of Park Colonial, Riverfront Residences and Stirling Residences on the night of 5 July before the measures took effect, may have resulted to sales of over 1,000 units, said JLL national research director Ong Teck Hui.
\nIn fact, double digit sales \u201ccontinued to be registered at these three projects after 5 July, a testament to the adequate liquidity and fundamentally healthy demand in the market,\u201d revealed Huttons Asia research head Lee Sze Teck. \u201cWe will probably see around 1,500 units being clocked for the month of July.\u201d
\nThereafter, new home sales are expected to decline significantly over the next few months as the market takes stock of the new cooling measures\u2019 potential implications, said Song. \u201cDevelopers and buyers are also likely to shun the month of August due to the Ghost Month which starts on 11 August.\u201d
\nDespite this, Ong remain optimistic of Singapore\u2019s residential property outlook.
\n\u201cAlthough geopolitical tensions and the new round of cooling measures have injected some uncertainty into the market, the property market is still positioned for growth. Singapore\u2019s economic outlook remains firm and Singapore aggregated household balances remain healthy and flush with cash,\u201d he said.
\n\u201cFurthermore, downside risks remains relatively low due to current cooling measures and loan curbs. Despite a higher barrier of entry, the value proposition of the Singapore residential sector remains attractive.\u201d
\n\u00a0
\nSenior Content Producer, Christopher Chitty, edited this story
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Private home sales down 41.7% in June<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Image: Riverfront (Source: Christopher Chitty) Developers sold 654 private homes (excluding executive condominiums) in June,...<\/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-94039","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-osL","jetpack-related-posts":[{"id":104113,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-down-28-m-o-m-in-january\/","url_meta":{"origin":94039,"position":0},"title":"Private home sales down 28% m-o-m in January","date":"February 18, 2019","format":false,"excerpt":"\r Artist\u2019s impression of Fourth Avenue Residences, one of three new projects launched in January. Developers sold 433 private homes in January, down 28 percent from the 602 units moved in December, reported Channel NewsAsia citing Urban Redevelopment Authority data. Last month\u2019s sales were also 17.8 percent lower compared to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109041,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/june-sales-for-new-condos-25-5-higher-than-a-year-ago\/","url_meta":{"origin":94039,"position":1},"title":"June sales for new condos 25.5% higher than a year ago","date":"July 16, 2019","format":false,"excerpt":"\r Developers moved 821 units despite fewer units launched in June. Singapore\u2019s private residential market achieved some semblance of stability a year after the government rolled-out additional cooling measures in July 2018. Last month, developers managed to sell 821 new units, excluding executive condominiums (ECs), even as only 670 new\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":94039,"position":2},"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":94435,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/supply-glut-unlikely-to-happen-condo-prices-may-see-healthy-growth-jll\/","url_meta":{"origin":94039,"position":3},"title":"Supply glut unlikely to happen, condo prices may see healthy growth: JLL","date":"July 23, 2018","format":false,"excerpt":"\r More than 50,000 unsold units are forecasted to enter the market in the coming years. A glut is unlikely to occur in Singapore\u2019s private housing market despite the pessimistic outlook of the Real Estate Developers\u2019 Association of Singapore (REDAS), which believes that the new property curbs could erode market\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114357,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-up-14-9-in-january\/","url_meta":{"origin":94039,"position":4},"title":"Private home sales up 14.9% in January","date":"February 18, 2020","format":false,"excerpt":"\r The figure also marked the best January showing since 2013,\u00a0when 2,028 units were transacted. Photo: JadeScape emerged as the best-selling project in January 2020.\u00a0 Despite the Chinese New Year festivities and the coronavirus outbreak, developers sold 618 new private homes in January, up 14.9% from the previous month and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116465,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-drop-58-in-april\/","url_meta":{"origin":94039,"position":5},"title":"New private home sales drop 58% in April","date":"May 18, 2020","format":false,"excerpt":"\r Developers sold 277 new private homes in April, down 58% from the 660 units shifted in March. Photo: Kopar at Newton by CEL.\u00a0 With the implementation of circuit breaker measures from 7 April leading to the discontinuation of house viewings and closure of showflats, developers sold 277 new private\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\/94039"}],"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=94039"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94039\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=94039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=94039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=94039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}