The first quarter revealed a dip in new private property prices, though it could have been chalked up to the lack of new property launches. Developers may have been holding back on the launches, due to China’s market instability and the lunar new year festivities, till the later part of H1. And when that happens, pent up demand may mean good news.
Photo: Kingsford Waterbay
There were a few select launches in February, the 40-unit Longhaus in Upper Thomson Road; and The Wisteria and Cairnhill Nine this month. With the increase in uptake this month, property analysts are hopeful that numbers will look up in the second quarter.
Suburban condominiums fared particularly well, with The Panorama in Ang Mo Kio and Kingsford Waterbay both selling 18 units last month, the former at $1,211 psf and the latter at $1,127 psf. Principal Garden, Symphony Suites and The Poiz Residences are close runner-ups. A total of 430 homes were sold last month, down 10.2 per cent from January.
Buyers will however have lots to look forward to in a couple of months’ time. Sturdee Residences, The Visionaire and Parc Life executive condominiums and a new private condo in Toa Payoh will all be launching soon.