Outlook on Private Residential Market

22 October 2015

 

Mass market projects expected to drive private residential market

 

According to figures released by the Urban Redevelopment Authority (URA), the private residential market witnessed an increase in sales volumes in Q2 2015, with developers selling 2,116 private residential units island wide, a welcomed improvement of 61.4% quarter-on-quarter.

 

This improvement in the quarterly sales volume was mainly led by strong sales in the Outside Central Region (OCR) where 1,669 homes were sold, a 117.9% increase on quarter.

 

A Savills research report revealed that market activity in the OCR accelerated in Q2 2015 due to the success of two newly-launched projects – North Park Residences and Botanique at Bartley – which together sold a total of 964 units amid weak market sentiment.

 

Looking ahead, analysts expect mass market projects to continue driving sales in the private residential market for the rest of 2015.

 

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The above analyses are excerpts from our latest Agent Handbook (October – December 2015) which provides you with the ‘Guru View’ from industry thought leaders to perform better in the local and overseas markets. Opportunities still abound amid the more challenging market in 2015.

 

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