Property news summary: 16th to 31st Oct 2011

1) Property Market Activities

New private home sales hit high for year (ST, 18 October 11)
New private home sales rocketed to 1,621 units in September, 21% more than that in August. Suburban homes continue to drive market activity. In particular, Sim Lian’s A Treasure Trove, located near Punggol MRTstation, sold 683 units in September at an average price of $915 psf. Other mass market projects such as EuHabitat and the Boathouse Residences also saw healthy sale figures.

New condo: A Treasure Trove

On 13 Aug 2011, CDL Executive Chairman Quek Leng Beng said, “Over the next six months, developers may adjust downwards launch prices of private housing projects that are not located near MRT stations by about 5 per cent if they wish to move units, amid greater buyer caution.

However, developers of projects that are well located, close to MRT stations, should be able to hold prices or even marginally increase them by 1-3 per cent.” 

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