Sim, Head, CBRE Research, Singapore & South East Asia:
for March were encouraging as both existing and new launches saw healthy
numbers. The 843 units sold in March 2016 is similar to the November 2015
numbers when a new project The Poiz Residences, a mixed development, was
launched. The Wisteria, also a mixed development and Cairnhill Nine, together
made up 36 per cent of the sales for March. Another positive sign was that
there were still some traction of sales arising from previously launched
projects. The expectation that the government would not lift measures in the
near future probably nudged buyers sitting on the fence to commit to a
purchase. That, together with “right-pricing”, resulted in quarter one sales to
register 1,470. “Right pricing” is the pricing of developments in line with
market perceptions. ECs, both newly-launched and existing projects, also
saw similar healthy numbers. These numbers reinforce the point that there is
underlying demand to support the residential market.”
Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.
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