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  • CBRE comments on URA August home sales data

CBRE comments on URA August home sales data

Singapore | September 17, 2018
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Desmond Sim, Head of Research, Singapore & Southeast Asia: 

August new home sales of 616 units points to continued momentum of price quantum-led buying, post the July cooling measures.

This momentum has exorcised any fears behind the Hungry Ghost month, as sales take-up outpaced the number of units launched (534 units). The genuine fear could be that of missing out on value deals, on the back of possible rising home prices due to escalating land costs in future launches.

Although a function of units launched, this monthly sales volume is still higher than sales in January (527 units) and February (384 units) this year before the measures were introduced. CBRE would like to caution that the high volume of potential new launches injected into the market over the next 12 – 24 months might outpace take-up, resulting in higher unsold inventory, even if this momentum continues.

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Disclaimer:

Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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