President of PropNex Real Estate, Mr Ismail Gafoor stated that, “The momentum of the personal new house sales in May were mainly credited to 2 freshly released projects, which were Brownish-yellow Park as well as Parc Komo. Amber Park had over 26.2% take-up rate and also Parc Komo had over 28.6% take-up price in May. These take-up prices can be thought about healthy, under the existing market scenarios. A sign that rightly valued freehold tasks remain to continue to be eye-catching to capitalists and also upgraders. Nevertheless, regardless of the rise in the variety of brand-new launches in May, previously launched projects remain to remain in great need, as it contributed to 53.5% of the general personal brand-new residence sales in May.”
The leading 5 best-selling new launches for the month of Might were Brownish-yellow Park, Parc Komo, The Woodleigh Residences, The Florence Residences and Prize At Tampines. With Amber Park was the leading selling growth, with a total of 155 units sold at an average cost of $2,475 psf. Tracking closely was Parc Komo, which offered a total of 79 units at a median cost of $1,497 psf.
To conclude, Mr.Ismail remarked that, “There was a total amount of 3,525 exclusive brand-new house sales (omitting ECs) in the first 5 months of the year. This was a boost of 2.6%, from the 3,436 units sold over the same duration in 2018. Despite the cooling down actions in place and the reduced take-up prices being demonstrated over the launch weekends, the total private new house sales performance have actually boosted as compared to last year. For the rest of the year, we are expecting consistent sales efficiency, with a price quote of 8,500 to 9,000 personal new homes to be transacted.”