Developers’ sales for the week of 7 – 13 Aug 2023 were 121 units
The CCR accounted for 28.9% while the RCR and OCR made up 31.4% and 39.7%
The respective top-selling project in the CCR are Orchard Sophia, followed by TMW Maxwell in the RCR, and The Arden in the OCR
Huttons Data Analytics estimates developer sales of more than 5,000 units in the first eight months of 2023
With another 10–13 new launches in the pipeline this year, developer sales could end the year at around 8,000 units, still higher than 2022’s 7,099 units
Prices of new homes are likely to trend higher on the back of imported inflation and high interest rates
The Ministry for Trade and Industry is looking at relatively higher growth in 2H 2023 compared to the first half
While this may boost sentiments and give confidence, buyers are very cautious now especially when there are more projects in the pipeline
