Research Flash: Primary home sales in May 2011 decreased by 12%

Published 15 June 2011
OrangeTee Research & Consultancy

Primary home sales – May sales update of uncompleted private properties

Sales volume climbed to 1,575 units in May
Developers sold a total of 1,575 private residential units in May according to the latest URA data. This is a 12% m-o-m decrease in volume compared with the 1,788 units sold in April. The fall in sales volume was due to lesser major launches in the month as compared to the previous month. Projects in the Outside of Central Region continues to dominate sales in the month at 60%. Islandwide median prices fell 0.7% m-o-m, compared to a previous increase of 2.2% m-o-m. Median prices in the Outside of Central Region saw the greatest increase of 5.0% m-o-m.

Primary private home sales monthly – February 2011

Analysis of Primary Home Sales Data for February 2011
Released 15 March 2011
By OrangeTee Research & Consultancy

Primary home sales fell to 1,101 units in February 2011
Developers sold a total of 1,101 private residential units in February according to the latest URA data. This is a 7.4% m-o-m decrease in volume compared with the 1,189 units sold in January. This decline was contributed largely by the lack of major launches in the month and due to the cooling measures announced in January. Projects in Outside of Central Region continues to dominate sales. Median prices islandwide has fallen by 7.7% on average, compared to a 1.8% increase in the previous month.