18 AUGUST 2015
REAL ESTATE DATA TREND
Private homes sales by developers (July 2015)
The private housing market regained some momentum last month as buyers snapped up units amid a larger number of new units launched, following a lull in June when buyers held off buying and developers held back new offerings to avoid the school holidays. Sales jumped more than 300 per cent from June, as developers sold a total of 1,594 units, up from 375 sold in the previous month. The number of units launched in July was also higher, at 1,468, compared to 219 in June (excluding ECs)
“The surge in primary home sales in July was largely in response to the sensitive pricing of the only major launch in the month – High Park Residences, which reignited buying interest and accounted for more than 73 per cent of the total number of units sold; the other sales seem to spread across many other past projects,” continued Mr Ismail Gafoor, CEO of PropNex Realty, “another possibility can also be due to the return of buyers after the June school holidays and possibly some buyers speeding up their decisions to avoid buying during the Hungry Ghosts Month”.
