Developers’ sales for the week of 26 Jun – 2 Jul 2023 were 63 units

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Developers’ sales for the week of 26 Jun – 2 Jul 2023 were 63 units

The CCR accounted for 33.3% while the RCR and OCR made up 30.2% and 36.5%

The respective top-selling project in the CCR was Leedon Green and The Avenir, followed by The Reserve Residences and Piccadilly Grand in the RCR, and Tenet in the OCR

ThDevelopers’ sales for the week of 26 Jun – 2 Jul 2023 were 63 units

The CCR accounted for 33.3% while the RCR and OCR made up 30.2% and 36.5%

The respective top-selling project in the CCR was Leedon Green and The Avenir, followed by The Reserve Residences and Piccadilly Grand in the RCR, and Tenet in the OCR

The private residential property market posted a surprise decline of 0.4% in prices after the cooling measures on Apr 27

This could be due to developers pricing their launches sensitively with affordability in mind after the cooling measures

There were slightly lesser high profile deals above $10 million after the cooling measures

Nevertheless market demand remains healthy as there is ample liquidity

Based on URA Realis, developers are estimated to have sold more than 2,000 units in 2Q 2023, almost 66% higher than 1Q 2023’s sales

With more launches in the pipeline, the market is on track to sell around 8,000 units with prices increasing up to 5% in 2023e private residential property market posted a surprise decline of 0.4% in prices after the cooling measures on Apr 27

This could be due to developers pricing their launches sensitively with affordability in mind after the cooling measures

There were slightly lesser high profile deals above $10 million after the cooling measures

Nevertheless market demand remains healthy as there is ample liquidity

Based on URA Realis, developers are estimated to have sold more than 2,000 units in 2Q 2023, almost 66% higher than 1Q 2023’s sales

With more launches in the pipeline, the market is on track to sell around 8,000 units with prices increasing up to 5% in 2023

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