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Private Home Sales In Q3 2019 Look Set To Be The Highest In Six Years

The preliminary figure for Q3 2019 stands at 3,572 units. This is not only up 18.6 per cent year on year, it is also the highest since the 4,538 units sold in Q2 2013. 

The 1,270 private homes moved in September is 36.3 per cent higher than the 932 units in the corresponding period last year, and 13.1 per cent higher from the 1,123 units from the previous month. As of end September, developers have moved 7,760 homes, up 11.5 per cent y-o-y.

According to developers’ submissions to the Urban Redevelopment Authority (URA), 1,714 new homes were launched in the month of September. 

Five new projects were launched in September - Cuscaden Reserve, Avenue South Residence, Meyer Mansion, The Antares and Uptown @ Farrer. Earlier in August, Parc Clementis was the only new launch.

Developers have, and are supplying more units for sale this year compared to last year. Depending on the sales momentum in Q4 2019, the total sales volume for 2019 may equal to 2018’s or just marginally higher. There were forecasts that private sales in 2019 could exceed 9,000 units.