MODEST OUTLOOK FOR
OCTOBER
Oct 17, 2014
New sales volume in October is expected to maintain its
momentum, according to analysts.
This is partly attributed to the launch of highly
sought-after projects such as Marina One Residences (pictured), and the continued
release of new units in Highline Residences for sale.
Knight Frank Singapore’s Executive Director of Residential
Services Tan Tee Khoon said buying sentiment for new launches is likely to
remain fairly muted as some potential buyers adopt a wait-and-see approach:
“Homebuyers will remain highly selective for the next quarter, with project
location and launch prices being key factors in their purchase decision.”
Moving into the last quarter of the year, developers are
expected to step up on their launches ahead of the festive year-end season and
school holiday lull period. Chia Siew Chuin, Colliers International’s Director
of Research & Advisory said, “Taking into account the healthy sales of
Marina One in the first two weeks of October as well as selective buying for
well-located projects, primary market sales volume is envisaged to be in the
region of 500-700 units in October.”
According to Ong Teck Hui, National Director for Research
and Consultancy at JLL, the relatively small absolute numbers for new launches
in September shows developers are cautious about launching too many units
together, signaling an uncertainty on the market’s ability to absorb.
He added, “While the period before the year-end holidays
presents a window of opportunity to secure more sales or launch new projects,
developers are also concerned that too many projects being launched within a
short time frame could dilute marketing efforts and sales take-up.”
However, if a project launch is deferred until 2015, he said
the main concern would be how sentiments might be affected by possible slower
economic conditions.
Additionally, CBRE noted Sophia
Hills at Mount Sophia
Info courtesy –
Property guru
