Home buyers have been presented with a large number of new property launches in the first two months of the year, and many experts predict there will be plenty more to follow in the coming months.
Around 2,199 residential units were launched last month, excluding executive condos (ECs), and experts believe the numbers this month will also be high, but not as much as January’s.
The number of units launched in the first two months surpassed the 2,956 units released over the same period last year. Many experts said developers are keen to launch property projects to take advantage of the still buoyant market.
Real estate agents are also eagerly marketing several developments which could contribute to thousands of new homes in the coming months. Meanwhile, experts said the large number of new units released in the market could be partly attributed to the government’s efforts to launch more sites for residential development.
“The process of buying a site and getting the future project launch-ready can take a few months and so the number of new projects that are springing up is a delayed reflection of the supply of state land that was released for sale last year,” said Tan Kok Keong, Head of Research at OrangeTee.
Last month’s numbers were boosted by the launch of several large developments, noted Ku Swee Yong, Chief Executive of International Property Advisor. These developments include Parc Rosewood (pictured) at Woodlands, which contributed 236 apartments and Watertown in Punggol, which released all of its 992 units.
This month also featured plenty of new launches, but it has tended to be small projects like Guillemard Edge.
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