Developers’ home sales double in Q1
- Tuesday, April 6, 2010, 15:13
- Singapore
- Add a comment
Property consultancy group CB Richard Ellis estimates developers sold a total of 1,200-1,400 new private homes in March 2010. This will bring their total homes sales for the first quarter of this year to nearly 4,000 units – more than double the 1,860 units they sold in Q4 2009.
The strong take-up in Q1 2010 was anchored by new launches such as Altez in the Tanjong Pagar area, Cube 8 at Thomson Road and Holland Residences.
Based on caveats lodged to date, about 33.7 per cent of buyers in Q1 2010 had HDB addresses, often regarded as a proxy for HDB upgraders.
On the whole, home prices in Q1 2010 reflected increases of 2-5 per cent over the preceding quarter, according to CBRE, supported mainly by resale transactions as developers have maintained prices of new launches in the same locations at last year’s levels.
