Jul 16, 2014
4,476 homes were sold in the first six months of 2014, less
than half the sales recorded in the first half of 2013, according to CBRE.
“The drop in sales in the first half of the year is mainly
the result of the fall in the number of launches. The number of units launched
in the first half of 2014 totalled 4,807, which is about half of the 9,941
units launched in the first half of 2013,” said Joseph Tan, Executive Director
at Residential, CBRE.
While the units sold in the H1 2014 is lower, it still
reflects a strong take-up rate of 93 per cent, he added.
According to Colliers International, launch and sales
volumes declined year-on-year respectively by 76.4 percent and 73.3 percent
from the 1,768 units launched and 1,806 units sold in June 2013, before the
Total Debt Servicing Ratio (TDSR) was announced.
“The sales tally of 482 units in June 2014 is the lowest
registered for the month of June since primary market sales data was made
available from June 2007,” said Chia Siew Chuin, Director of Research &
Advisory at Colliers International.
She expects launch activity to pick up slightly as the
traditional lull period is over,
However, with fewer affordably-priced mass-market projects
in the pipeline, buying volume is not expected to improve extensively. Colliers
International predicts primary market sales volume remain to the region of 400
to 700 units in July.
For the second half 2014, location and the pricing will be
the most important factors in determining home sales volumes. CBRE expects
buyers to remain selective and take a longer time to make their purchase.
Tan said, “Based on the projects that will be coming
on-stream, we anticipate that underlying demand, coupled with competitive
pricing, should ring in total new sales of between 8,000-9000 units for the
whole of 2014.”
Info courtesy - PropertyGuru.com.sg