Developers’ sales for the week of 24 June 2024 – 30 June 2024 were 61 units
Flash estimates showed that property prices edged up by 1.1% in 2Q 2024, easing from the 1.4% gains a quarter earlier due to higher for longer interest rates and cautious sentiments which capped price increases
Huttons Data Analytics estimate developers launched between 600 and 700 private residential units in 2Q 2024, about 50% lower than 1Q 2024’s 1,304 launched units due to the launch of smaller non-landed projects in 2Q 2024
Due to smaller project launches, developers’ sales in 2Q 2024 are estimated at 700 to 800 units, about 35% lower than 1Q 2024’s sales of 1,164 units and about 65% lower than a year ago
Overall developers’ sales volume are on par with the number of launched units, reflecting the robust demand for new homes
Barring unforeseen circumstances, developers may sell up to 6,500 new homes while prices are expected to be stable, increasing up to 4% in 2024
