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About 3rd Quarter Private Home Sales | There were three thousand three hundred and fifty-eight new sale transactions of private homes, up from 2,838 in the second quarter of 2021, despite fewer projects launched in the third quarter of the same year. Therefore, there was no significant decrease in demand for private homes in Q3 witnessed in Singapore in 2021. Knight Frank added, even as the city-state returned to phase 2 from July 22 to August 18, and August primarily being a traditionally calm month because of the Hungry Ghost Festival, Q3 remained strong.

3rd Quarter Private Home Sales

In addition, he noted that the grand opening of several travel lanes once the pandemic subsidies will lead to pent-up international demand, more so in the Core Central Region (CCR).  Having said this, Frank anticipates that the private home prices will shoot by about seven percent to 9% for the whole year. 

On the other hand, Flash estimates from (URA), The Urban Redevelopment Authority has it that the prices for non-landed private homes, except the (ECs) executive condominium, increased to 0.5% quarter-on-quarter in the third quarter in 2021; having (RCR) Rest of Central Region as the main contributor. Therefore, the growth registered in the first quarter and the second one in 2021 2.5% and 1.1% respectively was much higher compared to the quarterly increase in prices.

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In the third quarter, a total of 7,103 non-landed private homes, except ECs, were sold. Unfortunately, there was a slight drop of about 1.4% witnessed from the previous quarter. Similarly, 52.7% of the entire transaction was from the sales of Non-landed secondary in the third quarter which surpassed the 3,745 transactions of the primary market.

Thus, in CCR, the third-quarter launch where only one project was launched witnessed non-landed primary sales volume decrease to 48.2% to 411 transactions, whilst the secondary sales volume reduced to 19.2% to 709 transactions.

Canninghill Piers, a mixed development at former Liang Court, will be launching end of October 2021. Belgravia Ace has delayed its launch till January next year.


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