Existing residential developments in Singapore have experienced a rebound in sales amid lack of new launches, OrangeTee noted.
According to Property consultancy, they have observed an increased of sales in the past 3 months at some existing projects like Lakeville @ Lakeside and The Panorama, however due to seasonal reasons, the improved in sales might be partly.
The Panorama by Wheelock Properties was the third top-selling project last May which sold 44 units at S$1,232 psf median price, while MCL Land’s Lakeville was the fourth best-selling development which sold about 39 units at a median price of S$ 1,279 psf.
OrangeTee believes that the fewer projects will results to buyers’ narrowed choices and demand might fall to existing launches.
However, the property firm believes that prices of home are unlikely to bounce back as the local residential market stays limited by uncertainties in the global economy and government’s series of cooling measures, particularly mortgage curb.
