Singapore Property | Developer sales rises in December; these sales are the highest since 2012. After the statistics were carried out, it was reported that developers in Singapore sold 1,217 units in December which was up 57.2% from November and 126.2% this period in 2019. These sales include Executive condominiums, Private homes, and condominiums.
The Director of Research at Huttons Asia, Lee Sze Teck, likened this outstanding performance to where 473 units were sold at Clavon.
“There might be an expected rebound in economic growth for 2021. This is due to the inability to travel because of COVID-19 and the arrival of vaccines for COVID-19. This has attributed to the sales performance in December as well,” he said.
More on Developer Sales Rises in December
Other projects like Parc Clematis, Ki Residences at Brookvale, Jadescape, and Treasures at Tampines also recorded top sales during the month. The Outside of Central Region recorded 75.9% of the total new home sales, while the Core Central Region and Rest of Central Region also recorded 4.9% and 19.1% respectively.
It is expected that the top sales in December will spill over to January 2021 and possibly selling at the same volume at 1000 units. But the Senior Vice President of Research & Analytics at OrangeTee & Tie, Christine Sun, expects the demand for homes to decline this year. Christine Sun reveals that due to the launch of many mega projects and government moderated land sales, the demand for new homes might likely decrease.
The Senior Vice President & Analytics at OrangeTee & Tie, Christine Sun, also noted the unstable relationship between demand and supply may make prices of homes stable and increase in some areas where new supply is limited. Also, she expects the prices of new homes to move a bit higher this year. This is due to developers trying to sell their units in low demand.
If you are keen to find out on more new launches, you may visit Irwell Hill Residences at District 9, One Bernam, a mixed development in District 2 or Lavender Residence at District 8. The Atelier by Bukit Sembawang in District 9 will be launching soon.