Singapore Property | In last month’s data of URA, developers seem to have a good month for selling 821 units, not including the executive condominiums, despite having 670 units were opened to market from four residential projects last June.
Last month’s take-up rate may be lower than the selling percentage of 952 last May 2019; it is still noted to be higher compared to June 2018 take up which was only 654 units.
Each year, June had always been typically a slow month for real property sales; therefore this year’s selling rate is surprisingly higher and the fact the highest for the last 6 years.
More on Real Estate Developers sold 25.5% this June
Out of four projects debuted last month, Sky Everton of Sustained Land topped for having 134 units sold. Next to it were the Sim Lian Group’s Treasure at Tampines which sold 70 units and Wee Hur and Sing Holdings’ Parc Botannia which had a take-up sale of 60 units. And completing the top five projects were MCL’s Parc Esta and The Florences Residences of the Logan Property with reported sales of 54 units and 48 units respectively.
As per a statement by Tricia Song of Singapore’s Colliers International, she believed that Sky Everton made it to the top last month for being the rare freehold property to open in the city center and nearby to the soon-to-be-opened train station.
The chief of research and consultancy of OrangeTee and Tie, Christine Sun, said in a statement that there are more freehold projects expected to be inaugurated in the next months. These projects will be erected in some prime location that buyers should immediately grab or else next collective sales should be waited which normally takes a few years to happen again.
In the other statement, Song anticipates that developers will turn to pricing strategy as it is observed that buyers are more particular on price-wise choices of investment and properties. On the other hand, Sun expects that developers will speed up the opening of new projects before the 7th lunar month.