278 units were sold in June 2023, 73.2% lower than May 2023. CCR account for 40.3% or 112 units of total sales in Jun.
Singaporeans accounted for almost 80% of the demand in the CCR which might be due to the closing of the gap in prices between the CCR and the RCR, plus cooling measures’ negative effect on demand from foreigners.
Nevertheless, developer’s sales are estimated to be between 1,200 and 1,400 in July. Grand Dunman, Lentor Hills Residences, Pinetree Hill and The Myst have collectively sold more than 1,100 units on their launch weekends.
This has helped increase the confidence of buyers as the take across all unit types in these 4 launches have been strong.
In the first 7 months of 2023, it is estimated that more than 4,700 units have been sold by developers.
The market is on track to sell around 8,000 units in 2023 with prices increasing up to 5%.
Upcoming launches in August include Altura (EC), Mattar Residences, Orchard Sophia, The Arden, and The Lakegarden Residences.