New launches to boost private housing sales
New property launches are expected to give a boost to developers’ private housing sales in February and March, after only 565 units being sold in the primary market in January 2014. Although this figure for is higher than the 259 private homes sold in Dec 2013, it decreased 72 percent year-on-year, and is also the lowest figure recorded for the month of January since the 108 units in January 2009 after Lehman’s collapse. Developers were thought by market watchers to hold back launches before Chinese New Year due to the weak sentiment since the introduction of the Total Debt Servicing Ratio (TDSR) in June 2013. The top-selling project last month was the 281-unit The Hillford in Jalan Jurong Kechil in the Upper Bukit Timah area with a median price of $1,105 psf.
(Source: Business Times)
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