Jan 2016 Home Sales Volume
Desmond Sim, Head, CBRE Research, Singapore and South East Asia:
At 381 units sold, January new home sales was riding on the momentum witnessed at the end of 2016. With the dearth of launches, buyers continued to invest in the large array of existing projects. This is despite December and January being seasonal holiday periods. We expect new sales in February to be higher with the launch of The Clementi Canopy and possibly Grandeur Park Residences if it is launched soon. The market will offer more choices across a wider geographical spread over the next few months, which will support demand levels.
Still, the number of new launches will be lower compared to the past two years which will spur sales for the previously launched projects. CBRE expects demand for new homes to remain steady, hovering in the region of 7,000 units for the whole of 2017. The market is closely watching interest rate movements which might sway decision making.