Singapore Home Sales Rebound to 2 Year High

Singapore Luxury Home Sales Rebound to 2 Year High

Singapore Homes Sales on a Rebound? The property market reached a 2 year high after successive rounds of cooling measures by the Singapore government. Could be it the start of a market recovery???

Singapore home sales rose in July to the highest in two years, driven by new projects. Developers sold 1,594 units last month compared with 375 units in June, according to data released Monday by the Urban Redevelopment Authority. That’s the highest since June 2013, the data showed.”

Read the full story from Bloomberg at http://www.bloomberg.com/news/articles/2015-08-17/singapore-july-home-sales-rise-to-two-year-high-on-new-projects

By Luxury Property Club – Singapore Home Sales Rebound to a 2 year high since 2013. Apart from the healthy sales numbers, the property market seems to be waking up from its slumber. A key point to note is the bulk of July 2015 sales comes from one property launch in district 28 called the High Park Residences. The developers hit on the right note of low absolute pricing and sub $1000 psf and they sold over 1163 out of 1186 units at the main launch. Homes buyers and investors who have been on the sidelines, probably felt its time to make a buy call as the pricing from as low as $386,000 upwards made the home purchase affordable.

Crystal ball : what to expect from home sales in August 2015?

Expect the August home sales to likely record a drop as developers do not release new launch during the annual “chinese ghost festival” month. Simply flip the Straits Times on the weekend and you suddenly not see much property ads for the next 3 weeks. Time for the developers to consolidate, recharge and work towards new launches in the coming weeks.

by the Luxury Property Club.
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