MUTED SALES IN JUNE
Home analysts attributed the lack of significant project debuts during that time to the peripheral increase in the market and the school holidays in June.
In light of the current hesitant getting outlook and near-term interest rate uncertainty, developers may have also held up on launches, according to Ms. Song.
Lee Sze Teck, Huttons ‘ senior director of data analysis, stated that consumers “remained very careful and budget conscious in view of the financial weather.”
According to property analysts, last month’s sales were driven by units sold in the Outside Central Region ( OCR ), making up 57.9 per cent. Sales in the Rest of Central Region (RCR ) at 31.1 percent and the Core Central Region (CCR ) at 11 percent followed this.
In the OCR, Tembusu Grand and The Botany at Dairy Farm placed second, followed by The Lakegarden Residences, who sold the most products there.
The lack of significant new debuts and the introduction of normally smaller-sized RCR projects in the first quarter of 2024 have helped maintain interest in these qualities, showing how they will remain relevant in the market,” said Mohan Sandrasegeran, head of research and data analysis for Singapore Realty Inc.
Ms. Song added that” all of the bottom ten best-performing projects in June came from existing tasks, primarily from the OCR and RCR,” which indicate that buyers have become very price sensitive as a result of economic weakness and higher loan rates.