February Sees Developer Sales Plummet
- New private home sales drop by 47% month-on-month.
- Year-on-year decline of 65.5% reflects cautious market sentiment.
- Limited launches and Lunar New Year contribute to the dip.
- Only 45 new residential units launched, lowest since December.
- Top-selling projects include The Botany and Blossons by the Park.
Buyers Await the Right Opportunity
- Watten House achieves 74% sales since launch.
- Lentor Mansion achieves 75% sales over two days.
- Buyers favor projects with flexible layouts and integrated amenities.
- Pricing strategy crucial; projects with competitive pricing see higher demand.
- Growing appeal of Lentor as a private residential enclave.
Interpretation and Outlook
The decline in February's developer sales highlights market uncertainties amid limited launches. However, strong sales at Watten House and Lentor Mansion indicate sustained buyer interest. With several launch-ready projects in the pipeline, the market is poised for a rebound in the coming months.
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Source:
EdgeProp: Feb Summary
EdgeProp Watten House Sales
EdgeProp Lentor Mansion Sales