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07-04-12, 23:07
http://www.businesstimes.com.sg/sub/premiumstory/0,4574,484341-1333223940,00.html?
Published March 31, 2012
Q1 sales of new private homes may hit 5,200 units
This figure is the second-highest level since the 5,578 units sold in Q3 2009 and final tally may even surpass that record
By KALPANA RASHIWALA
DEVELOPERS' sales of new private homes this quarter could reach 5,200 units - the second-highest level since the 5,578 units sold in Q3 2009, according to estimates from CBRE.
Some market watchers point out that with 4,285 units sold in January and February, based on data from the Urban Redevelopment Authority compiled from monthly declarations by developers, the final tally for this quarter which ends today (Saturday), could even surpass the previous record.
In Q4 last year, the figure was 3,603 units.
The above numbers exclude executive condominiums (ECs), a public-private housing hybrid.
Among the latest projects to be released is Natura, a 10-storey freehold residential project at Hillview Terrace priced at about $1,250 psf on average. The development, which went on the market this week, features smaller-than-usual units, with a three-bedder starting at 635 sq ft.
Commenting on the sales tally for Q1, CBRE executive director Li Hiaw Ho said: 'This is the first time since the previous peak in Q3 2009 that the sales volume has exceeded 5,000 units in one quarter. It has been averaging 4,000 units each quarter for the past few years. This increase in sales is due in large part to the slew of projects featuring compact apartments that have flooded the market in recent years.'
The smaller absolute price quantum of shoebox and other compact units makes them affordable and appealing to investors seeking a safe haven to park their savings to try and beat inflation.
CRBE's analysis of caveats data showed that the median price and size per unit of new private apartments and condos sold in the Outside Central Region - where mass-market projects are located - has fallen from $942,165 and 1,216 sq ft in Q1 2010 to $874,940 and 893 sq ft in Q1 2011, and to $784,950 and 721 sq ft in Q1 2012, respectively. This is based on URA Realis caveats data available as of yesterday.
Among the projects with compact units that sold well in Q1 were Guillemard Edge, Casa Cambio, Millage and Tree Scape.
Buyers' interest in Q1 2012 was project specific, depending on location, proximity to MRT stations, product attributes and pricing. 'Attractive discounts and rebates offered by developers pushed sales numbers higher,' said CBRE.
The quarter's top-selling projects include Watertown in Punggol Central, The Hillier at Hillview Avenue (both mixed development projects), and Parc Rosewood at Woodlands.
Another chart-topper for Q1 is Ripple Bay condo, which is a short walk from Pasir Ris Beach and priced at about $870 psf on average. Developer MCL Land released the project on Thursday. As of yesterday evening, 285 units had been sold. One and two-bedders were the fastest to fly off the shelves but there has also been demand for three and four-bedders. The cheapest unit to be sold was a 484 sq ft one-bedder, for about $430,000.
Going into Q2, CBRE expects developers to continue focusing on marketing mass-market projects as buying interest in this segment is expected to remain healthy. While the high sales volume of Q1 is unlikely to be repeated, it is reasonable to expect developer sales to register around 1,000 units per month, said CBRE.
DTZ's head of Asia-Pacific research, Chua Chor Hoon, who estimates that the Q1 developer sales tally will come in at 5,000-5,500 units, forecasts that the full-year number will be 14,000-17,000 units - 'provided there are no drastic cooling measures'.
She reckons that URA's flash estimate for the private home price index for Q1 2012, due to be released on Monday, is likely to remain positive - after the 0.2 per cent quarter-on-quarter increase for Q4 2011 - 'because there were a lot more primary market sales than secondary market sales in Q1'.
'The lower pricing for newly launched projects would not have found their way into the caveats. And DTZ's price index for secondary mass-market and landed homes for Q1 showed an increase. These will outweigh the decline in the luxury and prime market where there were fewer transactions,' said Ms Chua.
http://www.businesstimes.com.sg/mnt/media/image/launched/2012-03-31/BT_20120331_KRSALES31_1258094.jpg
Published March 31, 2012
Q1 sales of new private homes may hit 5,200 units
This figure is the second-highest level since the 5,578 units sold in Q3 2009 and final tally may even surpass that record
By KALPANA RASHIWALA
DEVELOPERS' sales of new private homes this quarter could reach 5,200 units - the second-highest level since the 5,578 units sold in Q3 2009, according to estimates from CBRE.
Some market watchers point out that with 4,285 units sold in January and February, based on data from the Urban Redevelopment Authority compiled from monthly declarations by developers, the final tally for this quarter which ends today (Saturday), could even surpass the previous record.
In Q4 last year, the figure was 3,603 units.
The above numbers exclude executive condominiums (ECs), a public-private housing hybrid.
Among the latest projects to be released is Natura, a 10-storey freehold residential project at Hillview Terrace priced at about $1,250 psf on average. The development, which went on the market this week, features smaller-than-usual units, with a three-bedder starting at 635 sq ft.
Commenting on the sales tally for Q1, CBRE executive director Li Hiaw Ho said: 'This is the first time since the previous peak in Q3 2009 that the sales volume has exceeded 5,000 units in one quarter. It has been averaging 4,000 units each quarter for the past few years. This increase in sales is due in large part to the slew of projects featuring compact apartments that have flooded the market in recent years.'
The smaller absolute price quantum of shoebox and other compact units makes them affordable and appealing to investors seeking a safe haven to park their savings to try and beat inflation.
CRBE's analysis of caveats data showed that the median price and size per unit of new private apartments and condos sold in the Outside Central Region - where mass-market projects are located - has fallen from $942,165 and 1,216 sq ft in Q1 2010 to $874,940 and 893 sq ft in Q1 2011, and to $784,950 and 721 sq ft in Q1 2012, respectively. This is based on URA Realis caveats data available as of yesterday.
Among the projects with compact units that sold well in Q1 were Guillemard Edge, Casa Cambio, Millage and Tree Scape.
Buyers' interest in Q1 2012 was project specific, depending on location, proximity to MRT stations, product attributes and pricing. 'Attractive discounts and rebates offered by developers pushed sales numbers higher,' said CBRE.
The quarter's top-selling projects include Watertown in Punggol Central, The Hillier at Hillview Avenue (both mixed development projects), and Parc Rosewood at Woodlands.
Another chart-topper for Q1 is Ripple Bay condo, which is a short walk from Pasir Ris Beach and priced at about $870 psf on average. Developer MCL Land released the project on Thursday. As of yesterday evening, 285 units had been sold. One and two-bedders were the fastest to fly off the shelves but there has also been demand for three and four-bedders. The cheapest unit to be sold was a 484 sq ft one-bedder, for about $430,000.
Going into Q2, CBRE expects developers to continue focusing on marketing mass-market projects as buying interest in this segment is expected to remain healthy. While the high sales volume of Q1 is unlikely to be repeated, it is reasonable to expect developer sales to register around 1,000 units per month, said CBRE.
DTZ's head of Asia-Pacific research, Chua Chor Hoon, who estimates that the Q1 developer sales tally will come in at 5,000-5,500 units, forecasts that the full-year number will be 14,000-17,000 units - 'provided there are no drastic cooling measures'.
She reckons that URA's flash estimate for the private home price index for Q1 2012, due to be released on Monday, is likely to remain positive - after the 0.2 per cent quarter-on-quarter increase for Q4 2011 - 'because there were a lot more primary market sales than secondary market sales in Q1'.
'The lower pricing for newly launched projects would not have found their way into the caveats. And DTZ's price index for secondary mass-market and landed homes for Q1 showed an increase. These will outweigh the decline in the luxury and prime market where there were fewer transactions,' said Ms Chua.
http://www.businesstimes.com.sg/mnt/media/image/launched/2012-03-31/BT_20120331_KRSALES31_1258094.jpg