Sales volume
picks up across the board on improved market sentiment
Overview
Home buyers seem more optimistic after last
month's interest rate cuts. There was a notable resurgence of buyers in the market,
especially after the conclusion of the lunar ghost month.
Despite launching only one mid-sized
project, the 158-unit 8@BT, September’s sales surged significantly on a
month-on-month basis. There was also a widespread uptick in sales volume across
various previously launched projects.
According to data from the
Urban Redevelopment Authority (URA), new home sales, excluding executive
condominiums (ECs), jumped by 90 per cent from to 401 units in September 2024
from 211 units in August 2024. Including ECs, new home sales similarly increased
by 75.3 per cent to 433 units in September from 247 units in August. Compared
to September 2023, new home sales (excluding ECs) jumped by 84.8 per cent from 217
units.
New Launches
Last month’s demand for new
homes primarily came from the new project launch, 8@BT, which garnered buying
interest due to its proximity to several shopping malls like Beauty World Plaza
and Bukit Timah Shopping Centre, and parks.
Previously launched projects
saw an increase in sales, such as Pinetree Hill, which moved 72 units in
September compared to 4 units in August; Hillhaven, which sold 46 units last
month compared to 14 units in the preceding month. Other best-selling projects
like Tembusu Grand, Hillock Green, Lentoria, The Myst, The Continuum, Sceneca
Residence, Pollen Collection, etc, all reported higher sales in September
compared to the preceding month.