New condo sales expected to grow by 33%
Edmund Tie and Company expects new condo sales volume to increase by 33 percent year-on-year to 2,300 units in the second quarter of 2019, compared to the previous quarter’s 1,739 units.
According to Singapore Business Review, the hike is expected to be led by new projects in the Rest of Central Region (RCR), where new sales are expected to soar 80 percent to over 1,100 units.
The forecast was in tandem with the launch of five new projects within the market segment, which made up over 60 percent of total new unit launches in Q2.
In Q1 2019, volume of new condo sales increased by 2.3 percent, as sales in the Core Central Region (CCR) registered an 82 percent increase in volume. Within the same quarter, sales volume in the Outside Central Region (OCR) saw a 52.4 percent hike, while sales volume in the RCR registered a 37.3 percent dip from the previous quarter.
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Fiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email fiona@propertyguru.com.sg
