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  • CBRE's comments: January private home sales performance

CBRE's comments: January private home sales performance

Singapore | February 15, 2019
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Mr Desmond Sim, Head of Research, Singapore & Southeast Asia. 

In January 2019, a total of 498 units were launched, while 433 units were sold. This signalled a very different mood from January last year, when sentiments were more positive and resulted in a take-up (527 units) that is  almost double that of units launched (253 units). 

There were three new launches (Fourth Avenue Residences, Fyve Derbyshire and RV Altitude) which were all from the Core Central Region. The top performer was Fourth Avenue Residences which had a decent take-up rate of 44% (74 units sold out of 164 units launched). The other two projects had 30% take-up rates with half of available units launched. Notably, based on caveats lodged, Fourth Avenue Residences sold 71.6% of units for below S$2 million. These are units with a relatively small median area of 710.4 sq ft, priced at a median price per sq ft of S$2,412.  

Existing projects continued to sell well with Affinity at Serangoon moving 54 units and Parc Esta 32 units.

In the EC segment, just one unit was sold from Northwave, with the next highly anticipated EC project at Sumang Walk likely to launch by Q2 2019.

With slower growth and heightened risks looming both on the global and home fronts, sentiments are likely to remain tepid and cautious. However, CBRE expects sales to pick up in the next few months with the launch of several mass-market projects.

 


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Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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