Developers’ sales for the week of 26 Dec 2022 – 01 Jan 2023 were 42 units
The CCR accounted for 40.5% while the RCR and OCR made up 35.7% and 23.8%
The top-selling project in the CCR is Perfect Ten, followed by Rivière in the RCR, and EC – Tenet in the OCR
URA’s flash estimates showed that prices were stable, growing by 0.2% in 4Q 2022
There was no new launches with benchmark prices in 4Q 2022 and sales volume were lower by almost 50% quarter-on-quarter, leading to stable prices
Prices in the OCR declined by 2.6% as demand in this segment of the market is more sensitive to interest rates and HDB upgraders
The higher interest rate is affecting the demand from price sensitive buyers as their ability to borrow is crimped
At the same time, prices in the HDB resale market is also slowing down and that reduced some of the liquidity for HDB upgraders
For the full year, developer sales are unlikely to exceed 7,300 units
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