Singapore Property | Despite being considered a “ghost month” for the real estate market, private homes remains robust last August. Typically, the month of August is slow in sales; however, it seems to be different this year as it has sustained its demands, as same as the past month.
A report by Urban Redevelopment Authority (URA) Realis dated September 12, it showed that developers have sold 1,122 newly developed homes in August, and a total of 1,167 units if including executive condominiums.
Among the top-selling projects is the Parc Clematis which leads last month for having 316 units take out, followed by The Florence Residences, Treasure at Tampines, and Parc Botannia which sold 122, 93, and 60 units respectively. These three developments were launched earlier but still had benefitted the steady demands on the market. Other developers to have launched last month were Parc Esta which sold 47 units and Piermont Grand EC with a take up of 44 units.
More on Private Homes remains robust last August
The head of research and consultancy of Orange Tee and Tie, Ms. Christine Sun stated that sales for last month are astounding despite the precariousness in the economic state. She added that having sold 1,000+ units which are as equal as last month’s sales are considered strong.
Last July, developers have sold 1,178 private homes with a total of 1,556 including EC’s, way too much higher compared to August last year’s record of 617 private homes sold. The positive and steady record of sales last August is the second-highest sales rating this year, next to July. This performance is expected to fortify developers to launch more projects this month.
Analysts assessed that launches and sales will remain robust this month and months before this year ends.
It is to expect as Singapore remains as one of the safe refuges for long-term investment, especially with residential assets.