Desmond Sim, Head, CBRE Research, Singapore and Southeast Asia:
"New private home sales (excluding ECs) for May came in at 1,121 units on the back of 1,060 units launched, supported by sales from Twin Vew which accounted for 40% of sales (454 units). This brings the tally for new private homes sold year to date to 3,434 units, compared to 5,568 units in the first five months of 2017. This can be attributed to the fact that there were fewer major launches in the beginning of the year. We expect buying demand to be more selective on the back of more launches expected in the near term. Total price quantum will remain the key affordability consideration while unit prices ($/psf) are expected to rise steadily.
CBRE Research maintains its full year forecast of total sales of 12,000 to 13,000 new units (excluding ECs)."
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