Developer Sales 24-30 June 2024

Developer Sales 24-30 June 2024

As a real estate agent in Singapore, it's crucial to stay updated on the latest trends and data in our market. Here's a look at the current landscape based on the latest developer sales and market performance:

Sales Overview for Late June 2024:

  • Total Units Sold: 61 units
  • Distribution by Region:
    • Core Central Region (CCR): 11.5%
    • Rest of Central Region (RCR): 31.1%
    • Outside Central Region (OCR): 57.4%

Top-Selling Projects:

  • CCR: Concourse Skyline, Klimt Cairnhill
  • RCR: The Tembusu Grand
  • OCR: The Lakegarden Residences

Market Trends:

  • Property Prices: Up by 1.1% in 2Q 2024, slightly easing from a 1.4% increase in 1Q 2024.
  • Interest Rates: Higher for longer, leading to cautious market sentiments and moderating price increases.

Launch and Sales Data:

  • Units Launched in 2Q 2024: 600-700 units, approximately 50% less than 1Q 2024’s 1,304 units due to smaller project launches.
  • Sales in 2Q 2024: Estimated at 700-800 units, about 35% lower than 1Q 2024’s 1,164 units and 65% lower than a year ago.

Despite the dip in sales volume, the number of units sold aligns closely with the number of units launched, indicating a robust demand for new homes. Looking ahead, developers are expected to sell up to 6,500 new homes in 2024, with prices predicted to rise by up to 4%.

Summary Highlights:

  • 61 units sold from 24 to 30 June 2024.
  • Top-selling projects: Concourse Skyline and Klimt Cairnhill (CCR), The Tembusu Grand (RCR), The Lakegarden Residences (OCR).
  • Property prices edged up by 1.1% in 2Q 2024.
  • Estimated 700-800 units sold in 2Q 2024, reflecting robust demand.

The market remains resilient despite a decrease in sales volume and the cautious sentiment due to higher interest rates. The demand for new launches continues, especially in the OCR, indicating a preference for affordable housing options among buyers. With a steady rise in property prices and stable market conditions, now is a strategic time for buyers to consider new launches to capitalize on potential capital appreciation.

Stay informed and ahead of the market. Reach out to me for the latest updates, personalized advice, and opportunities in Singapore's dynamic property market. Let’s find your perfect home or investment today!

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