New Home Sales Greatly Plunged in August

Singapore Property | Every one of us are looking for a decent house to settle in. A place where we could easily rest and spend time with our family members. We always look for the one that has the accessibility to different places that could give us our needs for our daily lives.

There are different properties in the market today that offers those kinds of features. They are near with trains, stores for buying their clothing needs and restaurant to have a place where they could easily buy a food from a busy and tiring work.

This might be the reason why the sales of homes have greatly plunged in the month of August. According to URA statistics, developers have sold 616 new private units including Riverfront Residences, Park Colonial and Stirling Residences, to different last month. This is according to exclusive executive condominiums (ECs). It simply translates that a 50.6 percent slump from the 1,246 units taken up in August 2017.

New Home Sales Greatly Plunged in August

This kind of measures simply states that a significant toll demands for private condominiums, said Orange Tee and Tie. However, in August, there are slower sales because there is a hungry ghost festival. The tither of financing rules has also an impact on scurrying foreigners on the market.

However, it is still understandable that the sales are slower in the month of August. It is also the first month after the cooling measures were implemented which causes buyers and investors still trying to analyze its effects of the pricing in the future. But they are hoping and expecting that the sales will again boom in the month of September, as more new launches like the Mayfair Gardens as well as the Jade Scape condo will be for sale.

During the month of August, The Tre Ver is top selling newly launched condominium. They have sold 165 out of 200 units to put up for a sale at a median price of $1551 psf.

If you are also looking at other new launches, a freehold strata landed development, Belgravia Green will be launching soon. You may register to view the Belgravia Green showflat by visiting the link.