Resale Private Property Transaction Halved While New Sales Surged

parc-esta-private-property-resale-down-while-developer-sales-surged-singapore

6% rise Year on Year

Singapore new private properties sale continue its streak by posting a 6% increase in volume compared to the same period last year; in contrast resale private property was down by 50% at around 2400 units changed hand.

Analyst noted that there’s a disparity between buyer and seller’s expectation in pricing at resale segment, while slew of launches by developer also drew the attention away to the comfy showflat, reporting 2500 units sold in the second quarter. In the meantime, prices of resale private property remain stable.

Increased Foreigner demand

Notably, foreigner acquisition of private properties saw an increase up 50% to 145 units compared to previous quarter. When location matters, investors preference remain attached with amenities and connectivity offering better pool of quality tenant. Sales activity remain steady at Parc Esta Showflat due to the attractive pricing offered at the superb location. Buyer’s noted that the developer’s track record gives them assurance and confidence on what they are getting when the development is ready for occupation.

Sales Figure Expected to exceed previous year

Despite uncertain economic direction, market watcher saw little reason for the property prices to drop. Private property transaction volume is also expect to surpass the figure in 2018, with the data in the first half of the year has exceeded that of the previous year.

photo:todayonline

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