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Thread: 1,544 private residential units sold in July; 82.3% higher than units sold in June

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    Default 1,544 private residential units sold in July; 82.3% higher than units sold in June

    http://www.channelnewsasia.com/stori...075432/1/.html

    1,544 private residential units sold in July; 82.3% higher than units sold in June

    By Mok Fei Fei | Posted: 16 August 2010 1304 hrs


    SINGAPORE: Demand for new private residential properties in Singapore jumped in the month of July above the 1,000 units level.

    Data just released by the Urban Redevelopment Authority (URA) showed that 1,544 units were sold last month.

    That's 82.3 per cent higher than the 847 units sold in the previous month.

    The hottest development was "The Scala" at Serangoon Avenue 3, which sold 400 units for a median price of S$1,173 per square foot.

    The most expensive unit sold was Boulevard Vue at Cuscaden Walk, where a unit was sold for S$4,600 per square foot. - CNA/vm

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    http://www.businesstimes.com.sg/sub/...99744,00.html?

    August 16, 2010, 12.57 pm (Singapore time)

    S'pore developer sales surge in July

    By KALPANA RASHIWALA


    SINGAPORE - Developers sold 1,544 private homes in July, up 82 per cent from the June sales of 847 units, show latest figures from Urban Redevelopment Authority released on Monday.

    The figures also show that developers launched 1,335 private homes in July, up from 1,010 units in June.

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    world cup effect...

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    gona drop below 1k again for ghost mth?

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    Quote Originally Posted by devilplate
    gona drop below 1k again for ghost mth?
    Probably 0.5k only as very quiet recently. No new launches.

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    should be more lah. Greenwich alone already power mah. then assume Dorsett and Viva Vista sell out at end of the month, add exisiting project sales, should clear 500 comfortably. hee


    Quote Originally Posted by wesing
    Probably 0.5k only as very quiet recently. No new launches.

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    Quote Originally Posted by bargain hunter
    should be more lah. Greenwich alone already power mah. then assume Dorsett and Viva Vista sell out at end of the month, add exisiting project sales, should clear 500 comfortably. hee
    Disagree with you. Only 174 units of Greenwich sold in August b4 7th month. Even if The Scala and all units released at The Minto got sold out in the first week of August, it will add another 157 units. With no new launches from now till end August to boost the quantity, doubt so total sales will comfortably breach 500 units in August.

    Is Viva Vista and Dorsett launching this month? Even if yes and both sold out, it will only add 202 units.

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    yes, those 2 will be launched this month. so u add these all up will already be more than 500. give and take, there are another around 100 projects transacted in jul with at least 1 unit sold. assuming the same for aug, even on average those other projects sell 2 units each already add another 200. we can't underestimate all these small projects, some of which are not even advertised. easily can contribute hundreds of units to the total sometimes.



    Quote Originally Posted by wesing
    Disagree with you. Only 174 units of Greenwich sold in August b4 7th month. Even if The Scala and all units released at The Minto got sold out in the first week of August, it will add another 157 units. With no new launches from now till end August to boost the quantity, doubt so total sales will comfortably breach 500 units in August.

    Is Viva Vista and Dorsett launching this month? Even if yes and both sold out, it will only add 202 units.

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    Quote Originally Posted by bargain hunter
    yes, those 2 will be launched this month. so u add these all up will already be more than 500. give and take, there are another around 100 projects transacted in jul with at least 1 unit sold. assuming the same for aug, even on average those other projects sell 2 units each already add another 200. we can't underestimate all these small projects, some of which are not even advertised. easily can contribute hundreds of units to the total sometimes.
    Ok. But as buyers normally shun the 7th month for property purchases, the small projects and long-ago launched projects may not contribute as much. The August figures should not exceed 600 units.

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    yeah let's see. it is yet unknown how well Dorsett (VIP on 27th, balloting on 30th, dunno why) and Viva Vista (next mon 23rd VIP Preview) will do. 1st one prob sell out but harder to tell for the 2nd one.

    Quote Originally Posted by wesing
    Ok. But as buyers normally shun the 7th month for property purchases, the small projects and long-ago launched projects may not contribute as much. The August figures should not exceed 600 units.

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    http://www.businesstimes.com.sg/sub/...75140,00.html?

    Published August 17, 2010

    Developers sell 9,957 homes in first 7 months

    Outlook still positive but buyers will be more selective with greater spread of projects

    By KALPANA RASHIWALA


    (SINGAPORE) Developers' sales of private homes surged 82 per cent month on month to 1,544 units in July from the low of 847 units in June, according to latest official figures. This reflects a resumption in home buying, which had taken a breather during the school holidays and World Cup.

    However, sales are expected to slip to around 800-1,000 units again in August, on the back of slower launches during the Hungry Ghost Month, say some property agents. After this ends on September 7, both launches and sales will pick up again, they reckon.

    In the first seven months of this year, developers have sold 9,957 private homes (excluding executive condos), after last year's strong sales of 14,688 units.

    CB Richard Ellis expects the full-year figure will be about 14,000 units. Jones Lang LaSalle's estimate is 13,000-14,000 while DTZ's SE Asia research head Chua Chor Hoon puts the number at 13,000-15,000 units.

    'The outlook still remains positive against the backdrop of Singapore's economic growth and the low interest rate environment but buyers will be more selective given that so many Government Land Sale sites are being sold; this will translate to greater choice of new projects.

    'Prices have also been on the rise, so potential buyers will be more discerning in picking properties that have better potential for rental income or capital appreciation,' Ms Chua added. DTZ's data shows that secondary market prices of completed private homes appreciated about 6-8 per cent in the first half of this year; her full-year forecast is an 8-13 per cent increase.

    CB Richard Ellis executive director (residential) Joseph Tan reckons that developers are unlikely to test new price benchmarks when they resume launches next month. But prices are unlikely to fall below current levels either, as land prices remain high, he adds.

    On the other hand, signs of buyer price resistance continue to prevail. Colliers International's analysis of official developer monthly sales data released by Urban Redevelopment Authority shows that the proportion of private homes sold by developers priced at $1,500 psf and below was at its highest level in 10 months in July, at 88 per cent.

    The Outside Central Region, where mass-market properties are typically located, accounted for 42.8 per cent of the total 1,544 units sold by developers in July, while the Core Central Region, where the most expensive homes in Singapore are found, had a 17.9 per cent share.

    Nonetheless, a handful of buyers picked up properties at top-line prices in July, notes CB Richard Ellis executive director Li Hiaw Ho. The most expensive apartment/condominium unit (in terms of $ per square foot) sold by a developer in July was a unit at Boulevard Vue which fetched $4,600 per square foot. BT understands that Far East Organization sold the high-floor unit of 4,456 sq ft for $20.5 million.

    URA's data shows that other high-end deals last month included a unit at The Orchard Residences which sold at $4,099 psf and another at Skyline @ Orchard Boulevard at $3,719 psf.

    The least expensive non-landed home was a unit at The Minton in Hougang which was transacted at $612 psf.

    July's surge in primary market sales came on the back of three major launches - 368 Thomson, Terrene at Bukit Timah and The Scala at Serangoon Avenue 3. Together, they made up 46.6 per cent of the total 1,544 units developers sold in July.

    The top-selling project was The Scala, with 400 units transacted at a median price of $1,173 psf.

    Also helping to boost last month's sales were sell-out launches for three projects that comprised mostly one-bedders - the 51-unit Centra Studios at Lorong 25 Geylang, 99-unit Haig 162 and Leicester Suites (46 of its 47 units were sold last month). 'Their success could be attributed to the affordably-priced small-format units they offered,' says CBRE's Mr Li.

    Developers launched 1,335 private homes in July, up from 1,010 units in June.

    Projects expected to be released after Ghosts Month include NV Residences in Pasir Ris, Twin Peaks on the Grangeford site, Cityscape in Mergui Road and Killiney 118.

    Two executive condo projects - the 573-unit Esparina Residences at Compassvale Bow in Sengkang and Chinese developer MCC Land's 406-unit The Canopy in Yishun - are slated for release in October, say market watchers.

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    Default Sales of new private homes surge in July

    http://www.straitstimes.com/PrimeNew...sunwMethod=GET

    Aug 17, 2010

    Sales of new private homes surge in July

    By Joyce Teo


    BUYERS returned to the private home market with an extra spring in their step after a lacklustre June laid low by school holidays, the World Cup and the euro zone crisis.

    Developers sold almost twice as many new homes last month as they did in June in what some experts are calling a pre-Hungry Ghost Month burst.

    Dr Chua Yang Liang, Jones Lang LaSalle's research head for South-east Asia, said the July number is 'a bit of a seasonal spike' as developers and buyers rush to act before the traditionally inauspicious month.

    This 'pre-hunger rush' has also been seen in previous years, he said.

    There were 1,544 new private homes sold in July against 847 in June, while developers launched 1,335 units compared with 1,010 in the previous month, according to the Urban Redevelopment Authority (URA) yesterday.

    New private home sales totalled a robust 9,957 units for the first seven months.

    While sales last month were relatively strong, buying interest remained selective with transactions lifted mostly by three new launches.

    The top seller was The Scala near the Circle Line's Lorong Chuan station. Officially launched late last month, it sold 400 out of 468 units at a median price of $1,173 per sq ft.

    Terrene at Bukit Timah - near the future Beauty World MRT station - sold 162 out of 172 units at a median price of $1,247 psf, while 368 Thomson sold out all 157 units last month at a median price of $1,403 psf.

    Local buyers continued to drive the market in July, shown by the high take-up in suburban projects or those outside the central region, experts said.

    Projects in the city fringes did relatively well. As with the suburban spots, developments near MRT stations or other key amenities with affordable pricing had better take-up rates, said Dr Chua.

    These include the sold-out Centra Studios and Haig 162, and the near sold-out Leicester Suites: All offered affordably priced small format units, said CBRE Research.

    Apart from 368 Thomson, prime projects did not attract much attention.

    DTZ's head of South-east Asia research, Ms Chua Chor Hoon, said strong buying interest in the mass and mid-end segments continues to be fuelled by low interest rates and an improving economy.

    PropNex chief executive Mohamed Ismail noted that the strengthening economy has raised slightly the threshold for the price per square foot that buyers are willing to pay.

    A fairly busy July is expected to give way to a slower August because developers are likely to launch fewer units during the Hungry Ghost Month from Aug 10 to Sept 7.

    'As we enter the month, coupled with the possibility of a double-dip recession in the US and a sluggish UK economy, we expect sales volume to weaken in August by about 25 to 35 per cent,' said Dr Chua.

    'Some volatility may be experienced in the second half as a result of seasonal fluctuations and as the market awaits a clearer growth direction in the US and UK.'

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    hey, consultants still expect above 1,000 units sold in august...still have 4D to buy.


    'As we enter the month, coupled with the possibility of a double-dip recession in the US and a sluggish UK economy, we expect sales volume to weaken in August by about 25 to 35 per cent,' said Dr Chua.

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    Also....
    Quote Originally Posted by mr funny
    However, sales are expected to slip to around 800-1,000 units again in August, on the back of slower launches during the Hungry Ghost Month, say some property agents.
    Still, more bullish than some predictions here.

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