SINGAPORE: Private property developers saw lacklustre sales in November, with the number of new units sold falling 31.4 per cent from the previous month, figures released by the Urban Redevelopment Authority (URA) on Thursday showed.
Excluding executive condominiums (ECs), 860 new private homes were sold last month, down from the 1,253 units sold in October. Including ECs, 1,110 units were sold, down from October’s 1,542 units. Upcoming executive condo launches include Yio Chu Kang EC, Inz Residence EC, Choa Chu Kang EC, Anchorvale Lane EC, while existing ones include The Terrace EC, Brownstone EC, The Vales EC, Parc Life EC , Sol Acres EC, The Visionaire, Bellewoods EC, Signature at Yishun, The Criterion EC and Northwave EC.
“Buyers are motivated by a few factors. First, competitive prices have been offering them better value. Second, we have observed buyers moving to lock in home-loan packages before interest rates rise further,” said Mr Desmond Sim, head of CBRE Research in Singapore and South-east Asia.