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Sales of new private homes rebounded last month, marking the strongest January showing in seven years. URA reported that developers sold 618 homes - excluding executive condominiums - last month, 14.9 per cent higher than the 538 units sold in the preceding month, data from the Urban Redevelopment Authority (URA) showed on 17 Feb 2020 (Monday).
This was also 41.4 per cent more than the 437 units sold over the same period last year. Last month registered the highest January new private home sales in seven years.
This was also 41.4 per cent more than the 437 units sold over the same period last year. Last month registered the highest January new private home sales in seven years.
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Including executive condominiums, 638 units were sold, a 45.7 per cent increase over the 438 units sold in January 2019 and a 15.8 per cent increase on the 551 homes sold last December.
January 2020's sales take-up was led by projects in the city fringes or rest of central region (RCR), which accounted for 41.9 per cent (259 units) of total sales excluding executive condominiums followed by the surburban areas or outside central region (OCR), at 36.6 per cent (226 units).
The proportion of sales in the luxury segment or core central region (CCR) rose to its highest level since January 2019 at 21.5 per cent (133 units). This could be attributed to more high-end projects launched in January, she said, including The Avenir, Leedon Green and Van Holland, which collectively sold 74 units last month.
January 2020's sales take-up was led by projects in the city fringes or rest of central region (RCR), which accounted for 41.9 per cent (259 units) of total sales excluding executive condominiums followed by the surburban areas or outside central region (OCR), at 36.6 per cent (226 units).
The proportion of sales in the luxury segment or core central region (CCR) rose to its highest level since January 2019 at 21.5 per cent (133 units). This could be attributed to more high-end projects launched in January, she said, including The Avenir, Leedon Green and Van Holland, which collectively sold 74 units last month.
Even within a "tumultuous" economic climate the number of foreign buyers entering the private property market in the CCR segment has remained stable. The segment saw a 32.3 per cent month-on-month increase of new private homes purchased by foreigners. On a month-on-month basis, the overall volume of CCR transactions increased by 60.2 per cent.
So far there seems to have been "no major impact" on the property market from the COVID-19 outbreak. Property buyers will be "realistic, prudent and highly selective" as the disease dampens global economies, affecting job stability and "longer term mortagage servicing capabilities by Singaporeans with limited affordability".
Real estate powerhouse Huttons Asia's Kiwi Lim believes that Singapore's property market can withstand the impact of Covid-19 because the Singapore government has built further resilience since the Sars outbreak through efforts to diversify the economy.
When the storm calms, the tide of the market re-emerges with pent-up demand from buyers and investors. With the Government potentially announcing measures during the financial Budget to assist affected sectors and the resilient nature of the real estate market, we are likely expect(ing) new home sales volume to reach 9,000 to 10,000 units this year.
So far there seems to have been "no major impact" on the property market from the COVID-19 outbreak. Property buyers will be "realistic, prudent and highly selective" as the disease dampens global economies, affecting job stability and "longer term mortagage servicing capabilities by Singaporeans with limited affordability".
Real estate powerhouse Huttons Asia's Kiwi Lim believes that Singapore's property market can withstand the impact of Covid-19 because the Singapore government has built further resilience since the Sars outbreak through efforts to diversify the economy.
When the storm calms, the tide of the market re-emerges with pent-up demand from buyers and investors. With the Government potentially announcing measures during the financial Budget to assist affected sectors and the resilient nature of the real estate market, we are likely expect(ing) new home sales volume to reach 9,000 to 10,000 units this year.
The M at Middle Road by Wing Tai Holdings is a brand new mixed development in the centre of Rochor area at D07
Source from Channelnewsasia's online article on 17th Feb 2020
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A strong turnout was seen at the soft launch of The M at Bugis - Photo: Wing Tai Asia
Despite the current COVID-19 coronavirus outbreak, home buyers still could not resist this rare super attractively priced condo project in District 07 in the heart of Bugis. The M attracted over 2,000 potential home buyers during the first weekend of its soft launch on 15 February 2020 at its beautifully done showflat in Bugis.
The M is a 522-unit, private mixed condominium project on Middle Road in District 07 Bugis district that surprised many market analysts as it drew more than 2,000 prospective buyers flocking to view this beautiful project as market analysts has expected the demand for new property launches to be severely dampened due to the COVID-19 outbreak that started from China and now had spread globally.
Interested home buyers were mostly locals in their 30s and 40s, who were drawn to the prime location of the project within the Ophir Rochor Corridor.
Developed by Wing Tai Asia, the 522-unit residential commercial project at Middle Road comprises a mix of studio and one- to three-bedroom units, with sizes ranging between 409 sq ft and 904 sq ft. To cater to the changing lifestyle needs of young professionals, the studio and one-bedroom units feature a novel live-work design concept, which allows the living areas to be transformed into workspaces.
Prices for studio units start from just below $1 million, from $1 million for one-bedders and from $1.1 million for one plus study units. Meanwhile, the two-bedrooms, two-bedroom plus study units and three-bedroom dual-key units are priced from $1.3 million, $1.6 million and $2 million respectively.
The M is a 522-unit, private mixed condominium project on Middle Road in District 07 Bugis district that surprised many market analysts as it drew more than 2,000 prospective buyers flocking to view this beautiful project as market analysts has expected the demand for new property launches to be severely dampened due to the COVID-19 outbreak that started from China and now had spread globally.
Interested home buyers were mostly locals in their 30s and 40s, who were drawn to the prime location of the project within the Ophir Rochor Corridor.
Developed by Wing Tai Asia, the 522-unit residential commercial project at Middle Road comprises a mix of studio and one- to three-bedroom units, with sizes ranging between 409 sq ft and 904 sq ft. To cater to the changing lifestyle needs of young professionals, the studio and one-bedroom units feature a novel live-work design concept, which allows the living areas to be transformed into workspaces.
Prices for studio units start from just below $1 million, from $1 million for one-bedders and from $1.1 million for one plus study units. Meanwhile, the two-bedrooms, two-bedroom plus study units and three-bedroom dual-key units are priced from $1.3 million, $1.6 million and $2 million respectively.
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The M is very conveniently located within 3 mins walk to Bugis MRT and 4 mins walk to National Library, Suntec City & Convention Centre
Precautionary measures have put in place by reputable developer Wing Tai Holdings to ensure that showflat visitors are protected including temperature checks, hand sanitisers, hourly cleaning of the showflat by specially trained cleaners, contact tracing forms as well as limiting to only 200 individuals in the showflat at any one point in time.
Real estate agency, Huttons Asia's Kiwi Lim is not surprised by the turnout: "the expected price range of The M is very very attractive compared to other condo projects elsewhere and residential condo projects in District 07 in Bugis are very prime and very rare. This goes to show that Singaporean will always have an appetite for good quality property in excellent location and Singaporean investors know a good property when they see one - obviously in this case, it's The M.”
The project’s sales gallery is situated at the junction of Selegie Road and Middle Road, a short distance from The M’s location. You may visit the website for more information on The M.
Real estate agency, Huttons Asia's Kiwi Lim is not surprised by the turnout: "the expected price range of The M is very very attractive compared to other condo projects elsewhere and residential condo projects in District 07 in Bugis are very prime and very rare. This goes to show that Singaporean will always have an appetite for good quality property in excellent location and Singaporean investors know a good property when they see one - obviously in this case, it's The M.”
The project’s sales gallery is situated at the junction of Selegie Road and Middle Road, a short distance from The M’s location. You may visit the website for more information on The M.
