Data from URA shows that developer sales plunge 68% last month in June 2014 to 482 units. There are normally less property launches during this period due to school holidays as most parents bring their children for holiday. This year other than school holiday, the likely cause for the drop in developer sales is World Cup as most buyers got distracted due to late nights.
Going forward, monthly sales are expected to range about 600 to 800 units with air of caution. said Propnex CEL Mohd Ismail.
Developers pay more attention of existing projects with more TV ads, radio ads and other exposure. Those projects with good location and more competitive priced are still selling well.
Coco Palms @ Pasir Ris grove by CDL has sold 635 since the launch about 2 months ago. June alone sold about 55 units at an attractive psf of 1,014 on average. Another Top seller is june was The Skywoods @ Dairy Farm which sold about 19 units in june at an average of 1,235psf. The Skywoods gather interest from buyers after developer offer additional 3% for star buy units.
Another cause for the drop in developer sales is due to the lack of new property launches. In the month of June, only 2 projects were launched, namely The Crest and Trilive. The Crest sold about 35 units at an average $1,682psf while Trilive sold 19 units at an average of $1,605psf
|Project Name||Developer||Locality||Total Units||Total Sold||Units Sold
|The Crest||Wing Tai, UE E&C, Metro Australia||RCR||469||35||35||1,682|
|Commonwealth Towers||Hong Leong, CDL||RCR||845||296||24||1,721|
|Coco Palms||CDL, Hong Realty Hong Leong||OCR||944||635||55||1,014|
|The Panorama||Wheelock Properties||OCR||698||202||49||1,287|
|The Skywoods||Bukit Timah Green Development||OCR||420||101||19||1,235|