Upcoming 2020 Q4 New Launches
Market Trending After Circuit Breaker
Pent-up demand continues to drive new home sales with 1,227 units sold in Singapore in August, an 11-month high with confident buyers pushing prices upwards.
The high number of transactions surprised some because it was also the Hungry Ghost month, but it got an extra lift from Forett At Bukit Timah, a freehold development that was launched on Aug 8 – the first private residential project launch since the “circuit breaker” ended on June 1. A total of 212 units have been sold as of Aug 31. It is also up 13.6 per cent year-on-year and 9.3 per cent over July’s 1,080. Including ECs, 1,276 units were sold in August.
Condo Resale Volume Hit 2-Year High in August
Resale volume of non-landed private homes in Singapore hit a two-year high in August 2020, with an estimated 1,052 units resold in the month, up 7 per cent from the 983 units resold in July 2020.
Overall resale prices edged up 0.4 per cent month on month and year on year, according to flash figures from a real estate portal. This comes as the property market recovers from the slowdown encountered during Singapore’s “circuit breaker” period, benefiting from pent-up demand. By region, 59.5 per cent of the units sold came from sales in the outside of central region (OCR), 20.8 per cent from the core central region (CCR) and 19.7 per cent from the rest of central region (RCR) or city fringes. Condo prices in the CCR and RCR declined year on year by 3.1 per cent and 1.7 per cent respectively, while OCR prices rose by 2.8 per cent.
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