Slump in August developer sales on fewer launches

[Kevin Tan]

http://www.theedgeproperty.com.sg/content/slump-august-developer-sales-fewer-launches

Slump in August developer sales on fewer launches

By Lin Zhiqin / URA, Savills, The Edge Property | September 15, 2015 3:00 PM MYT


Sales of private homes by developers slumped 69% m-o-m from 1,611 in July to 495 in August on the back of fewer launches, which fell 59% m-o-m from July’s 1,468 to 598 in August 2015. The sharp fall in launches is likely due to the Hungry Ghost month, considered inauspicious by Chinese homebuyers. Sol Acres executive condominium (EC) was the only project launched.

High Park Residences continued to be the best selling project with 76 units sold at a median price of $933 psf in August, following its strong sales of 1,169 units in July. The performance can be attributed to the affordable price and close proximity to The Seletar Mall. Botanique At Bartley maintained its second spot with 30 units sold at a median price of $1,282 psf in August, compared to the 63 units sold in July at a similar median price psf.

[Kelonguni]

How come everything is 69?


http://www.theedgeproperty.com.sg/content/slump-august-developer-sales-fewer-launches

Slump in August developer sales on fewer launches

By Lin Zhiqin / URA, Savills, The Edge Property | September 15, 2015 3:00 PM MYT


Sales of private homes by developers slumped 69% m-o-m from 1,611 in July to 495 in August on the back of fewer launches, which fell 59% m-o-m from July’s 1,468 to 598 in August 2015. The sharp fall in launches is likely due to the Hungry Ghost month, considered inauspicious by Chinese homebuyers. Sol Acres executive condominium (EC) was the only project launched.

High Park Residences continued to be the best selling project with 76 units sold at a median price of $933 psf in August, following its strong sales of 1,169 units in July. The performance can be attributed to the affordable price and close proximity to The Seletar Mall. Botanique At Bartley maintained its second spot with 30 units sold at a median price of $1,282 psf in August, compared to the 63 units sold in July at a similar median price psf.

[propertycarrots]

Sales data in Aug with full caveats: http://propertycarrots.com/caveats/resi_aug15.php

[henryhk]

Sales data in Aug with full caveats: http://propertycarrots.com/caveats/resi_aug15.php

bontanquie at Bartley selling at $1282 psf is considered high Lor.... but people still buy, probably is the lower sf area, ..... I wonder how many buy for home stay ? How many buy for rental

[Citizen]

bontanquie at Bartley selling at $1282 psf is considered high Lor.... but people still buy, probably is the lower sf area, ..... I wonder how many buy for home stay ? How many buy for rental

Master Henry, it is capitalism. Everything got a price to it. Low or high is what we say. 2009 got 2009 price , 2015 got 2015 price. I remember a rich guy told me this story [ he was invited to a condo launch at CBD with his friend. The big boss of the developer served and presented to them and told them it was a good investment. His friend bought 10 over units and this rich man though to himself, if it was really that good the developer will keep it for their own investment. After few years, that area boom, his friend sold those units and made a windfall ] no matter high or low developers still sell , their core business is bid land , build and sell. But we are different , we can choose to buy, hold or sell. But remember there is always opportunity cost.