According to developers’ sales survey by the Urban Redevelopment Authority, the number of units launched fell sharply by 75.5 per cent month-on-month (m-o-m) to 444 units in April. There were only three mid to small-sized projects launched last month – Mayfair Modern (171 units), Coastline Residences (144 units) and Wilshire Residences (85 units).
HDB resale volume may rise in tandem with more flats reaching their five-year MOP this year. With more flats possibly being placed on the resale market, prices may face downward pressure for some flats.
New home sales rebounded strongly last month on a monthly, quarterly and yearly basis. According to developers’ sales survey by the Urban Redevelopment Authority, new home sales rose 131.6 per cent m-o-m to 1,054 units in March. Including executive condominium (EC) units, developers sold 1,062 units last month, registering a 132.4 per cent m-o-m increase. New home sales excluding ECs were also 47.2 per cent higher y-o-y.
Spring is here and it will be a busy home buying and selling season once again. While the property market had seen slower sales last year due to the cooling measures introduced in July, overall homes sales (landed and non-landed excluding ECs – executive condominiums) may remain robust at around 19,000 – 22,000 units this year.