25/09/2023
New Private Home Unit Sales for August 2023
A total of 852 units (including EC) were launched, while 649 units (including EC) were sold, resulting in a healthy take-up rate of 76.2%. The majority of the units both launched and sold were from OCR.
There are still buyers looking for homes despite fewer units launched. Well located projects continue to see demand from buyers looking for homes.
Bestselling Projects for August 2023
The top three bestselling projects in each market segment:
Orchard Sophia (24 units sold) in the CCR, Grand Dunman (26 units sold) in the RCR and an EC, Altura (225 units sold) in the OCR.
Upcoming Projects
There are six upcoming projects slated for launch. They are Skywaters Residences, Watten House, The Shorefront, J’den, Hillock Green and Lentoria.
In 2Q2023, HDB resale prices experienced a modest uptick of 1.5% qoq following a 1.0% rise in the price index for the previous quarter. Nevertheless, this growth rate remains below the average quarterly increase of 2.5% observed in 2022, highlighting the effectiveness of the September 2022 cooling measures which were intended to circumvent the significant rise in prices brought about by construction delays in the HDB BTO market.
HDB resale volumes also fell 6.7% qoq with 6,514 flats transacted. This decline comes after a 5.8% growth in the previous quarter and marks the lowest level recorded since the Covid-19 “Circuit Breaker” in 2Q2020 when only 3,426 flats were sold.
Looking ahead, the HDB resale market is expected to stabilize following the government's plan to release up to 13,000 BTO flats in the second half of 2023.
