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Sales down in December; down for all of 2014

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URA data showed that new home sales dropped to a five year low in December 2014, with buyers and developers holding back purchases and launches. The number of units sold fell by 46 per cent, from 423 in November to 230 last month.

Total 2014 new home sales amounted to 7,557 units, half the 15,291 sold in 2013.

December’s lacklustre sales can be attributed to a lack of new projects and a drought in home-buying. Colliers International stated that “In the absence of new launches to spur buying interest, home-buying activity in December 2014 also slowed down across all three market segments.”

In December, primary market sales volume in the Core Central Region fell by 56.3 per cent month-on-month to 35 units. Likewise, sales volume in the Rest of Central Region and Outside Central Region dropped by 60.1 per cent and 29.5 per cent month-on-month, to 61 units and 134 units respectively.

While overall property sales slowed, buying interest for executive condominiums (EC) held firm in December, according to DBS.

DBS reported that The Terrace, a 747-unit EC launched in Punggol Drive, was the most popular project last month, followed by Bellewaters, Waterwoods and Skypark Residences.

DBS listed non-landed properties, such as Lakeville, The Panorama and Riverbank@Fernvale as the top selling projects. 

Taken from ST Property

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Guest Monday, 13 July 2020