Residential

Private home sales jumped by 42.8% in January

A total of 2,013 private homes excluding ECs were transacted in January, up 42.8% from 1,410 in December 2012. Specifically, the OCR constituted 1,287 deals or 63.9% of the total sales, the CCR constituted 350 deals or 17.4% and the RCR constituted 376 deals or 18.7%. The increase in private home sales is a result of increased demand from buyers trying to avoid the latest cooling measures before they take effect and the high discounts and rebates developers offered after the cooling measures to encourage sales. 60% of these 2,013 units were sold before the measures took effect on Jan 12 while the rest were sold from Jan 12. Some developers such as Q Bay Residences and D’Leedon Residences offered discounts of 5-7% and up to 15% respectively. Sales of ECs, however, saw a 69.8% ...