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New home buyers snapped up new condos over the weekend once the circuit breaker goes into phase 2 on 19 June where homebuyers are allowed to view the physical show flat. That first weekend saw a total of 144 units transacted which is pretty healthy from the fact that there are not many new launches this year to boost sales volume.
This surge in number could be due to pent-up demand from homebuyers who are already looking to buy during circuit breaker but not willing to commit without viewing the show flat. Thus when showflat reopen, these homebuyers make a beeline to rush down to purchase.
Many homebuyers could make this swift decision also due to the education they got from numerous consumer seminars and virtual showflat that they can not only view the showflat virtually but also know their facts and figures. Therefore those buyers who make their purchase already know what they want to buy prior heading to the showflat with their 2 months of “Circuit Breaker Training”.
On top of that, some developers throw in an additional discount to further entice homebuyers to make the purchase immediate for those who are looking at fire sales. Still, homebuyers who are looking at more “fire sales” may be disappointed as launches especially those that launch this year is expected to launch with low-profit margin to capture the limited numbers of ready homebuyers on the market.
RCR and OCR Condos came in Top Sales Over the Weekend
Most of the sales happening over the weekend are in the Rest of Core Central Region (RCR) follow by Outside Central Region (OCR) region. There are only about 15 transactions in Core Central Region (CCR) which most of it happens in Marina One Residences and 8 Saint Thomas. Bukit Sembawang throws in additional discount at 8 saint Thomas to move the units.
The lack of activities in CCR could attribute to the lack of foreigners in Singapore due to travel restrictions. CCR should pick up once the travel restrictions are eased.
Phase 2 Reopening Weekend Top Selling New Condos
|1||The Florence Residences||38|
|3||Kent Ridge Hill Residences||17|
|4||Treasure at Tampines||16|
The Florence Residences came in top sales in this circuit breaker and in Phase 2 Weekend reopening with 62 units sold during Circuit Breaker for homebuyers without seeing the show flat and also sold 38 units during the post-weekend from 19 to 21 June when all the show flat reopen.
in RCR, Parc Esta Condo also clocked pretty good sales of 23 units over the same weekend that moves it sales closer to 90% mark. Daintree Residence in District 21, saw a revival in sales as more consumer seminars start talk on District 21, Upper Bukit Timah on the transformation on the area as part of Master Plan 2019. There’s a total of 14 units transacted over the weekend.
These top 10 selling condos are all 99 years leasehold condominium.