Developers’ sales for the week of 22 July 2024 28 July 2024 were 107 units
The CCR accounted for 13.1% while the RCR and OCR made up 25.2% and 61.7%
The respective top-selling projects in the CCR is Hill House, followed by Grand Dunman in the RCR and Hillhaven in the OCR
The private residential market was stable in the second quarter of 2024, supported by an increase in transactions
According to URA, prices creeped up by 0.9%, moderating from the 1.4% gains a quarter earlier due to higher for longer interest rates and cautious sentiments which capped price increases
The record low number of 634 units launched for sale pulled down developers’ sales to 725 units in 2Q 2024
In 2H 2024, there may be up to 15 project launches with a total of 5,738 units
With the US inflation easing, there may be scope for an interest rate cut in Sept 2024 and this will give demand and prices a fillip
Developers are forecasted to sell up to 5,500 new homes while prices are expected to be stable, increasing up to 4% in 2024.
