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[B.2] Unsold inventory very much Digested
Table [4] below shows the inventory level of new home units and the total monthly sales figures of new home units launched every month since January 2008. As the market went through four consecutive months of heightened buying activities, the new home inventory has come down to a more decent level of slightly over three thousands.
However, the Achilles’ heel of the private home market in the second half of 2009 may be those new home units bought earlier under the now-defunct Deferred Payment Scheme (DPS). Mass defaults may derail the healthy showroom sales performance.
Table [4] - Monthly sales figures of new home units launched in the respective months in 2008
|
Month |
Total New Home Units
Launched but unsold |
New units launched in
the month |
Total New Home Units Sold |
|
Jan – Dec 08 |
4,231 |
6,190 |
4,339
|
|
Jan 09 |
4,327 |
204 |
107
|
|
Feb 09 |
4,076 |
1,069 |
1,323 |
|
Mar 09 |
3,734 |
832 |
1,220 |
|
Apr 09 |
3,620 |
1,083 |
1,207 |
|
May 09 |
3,146 |
1,161 |
1,668 |
|
|
Total |
4,349 |
5,525 |
Source of data: URA
This article first appeared in Sam Gian's Property Market Update May 2009 which was published in June.
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