Sales could boom in the coming months as the project galleries reopen after 3 months

    • Life seems to be coming back to normal at least for the real estate industry after the reopening of project galleries on 19th June 2020. The overall tally of sales at the weekend went to 144 units as 38 units were sold on Friday followed by 45 units on Saturday and 61 units on Sunday.
    • Signs were already there in the first two weeks of June as 163 units and 183 units each were sold in the first and second week of June however, the viewing at the last weekend consisted of visits from the buyers who had already purchased their homes during circuit-breaker and wanted to see the actual units.
    • There has been a healthy turnout in the real estate market which can be easily understood from the following states:
      • There were more than 30 appointments at the One Pearl Bank, a redevelopment project by CapitaLand, with more than 100 visitors coming to view the show flats at the last weekend.
      • Margaret Ville, a 309-unit project was completely sold out during the circuit breaker and only 7 units were sold through virtual tours. The average price of the units sold at this project was S$1,835 psf.
      • Over the period of 3 days from 19th June to 21st June, 400 prospects visited the sales gallery at Stirling Residences, which is a 1,259-unit private condo development at Stirling Road. At least 10 units were sold.
      • The Florence Residences, a project by Logan Property at Hougang Avenue 2, welcomed 300 visitors over a period of 3 days and more than 20 units were sold.
    • Almost 80% of the units have been sold out at Stirling Residences as the sales crossed 1000 mark since its launch in July 2018 while 51% of the units have been handed over to the buyers at Florence Residences since its launch in 2019.
    • Mr CB Chng, executive director of Logan Property Singapore said that buyers are loving the facilities, the environment provided, and the location of the Florence residences too.
    • The 1052-unit Affinity at Serangoon, the 548-unit Kent Ridge Hill residencies, and 1,472-unit Riverfront Residences, 3 of the most remarkable projects of Oxley Holdings, observed consistent sales all round the circuit breaker period. Each of the 3 projects sold about 20 units in the past three days.
    • 11 units, including a five-bedroom penthouse that got $3 million, was contributed by Kent Ridge Hill residences that were sold in the past three days bringing the tally of projects for the month of June to 30, Lim said. 90% of the sales threshold was brought up by riverfront residents post sales of 3 units and Affinity at Serangoon brought its sales to 20 for the month of June by snapping half a dozen units.
    • Over the past three days, Sim Liam Group’s 2,203 unit Treasure at Tampines witnessed 14 sales and around 125 viewing apartments moving the take-up rate to 55%.
    • Parc Clematis, a 1,468-unit project by SingHaiyi Group only reopened on 20th June and drew 550 visitors even when the visits were allowed by appointments only with all the safety measures in place. The project has sold out 59 units in total for the month of June 2020 to date.
    • JadeScape became the most successful project during the circuit breaker in terms of sales in the entire Rest of Central Region (RCR) as 58 units were sold between April 7 to June 1. 11 units were sold after its reopening on June 19 and the project drew 130 visitors. Daintree Residence by SP Setia is another project from the RCR that gain success since reopening and it sold 14 units from June 19 to June 21.
    • Kopar at Newton, a project by CEL Development, sold 5 units during the last weekend. 4 of 5 units sold were a blend of 2-bedroom and 3-bedroom flats ranged at a price between $1.55 to $2.45 million. The project was launched in April 2020 just before the circuit-breaker measures were announced and it has managed to sell out 112 units so far.
  • A total of 2,149 units was sold in Q1,2020 approx. 700 months per month except for April and May. Sales could go high in the second half of the year and the year could end with 7500 to 8000 new homes sold.

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