Market Trend for Private Residential – 2Q2020

Post author:cptan
Post published:July 22, 2020
Post category:Market Trend

Non Landed Residential Property - Apartments & Condominium

Sales Volume was higher on a month over month basis but lower on a quarter over quarter and year-on-year basis.

Compared to last month, Jun 2020 volume was higher by 624 units or 103.8%. (1225 in Jun 2020 vs 601 in May 2020). This was contributed by pent up demand in New Sale after 2 months of weak sales in April and May due to the Circuit Breaker and as Sales Galleries were allowed to be opened for viewing by appointment only from Phase 2 re-opening. Majority of New Sale were from RCR and OCR.
Compared to the same period last year, Jun 2020 volume was lower by only 37 units or 2.9%. (1225 in Jun 2020 vs 1262 in Jun 2019). There was a huge drop in Resale but was almost neutralised by the higher number from new sale.
In comparison to 1Q2020, 2Q2020 sales volume was also lower by 1397 units or 36.9% (2388 in 2Q2020 vs 3785 in 1Q2020). The drop was due to the two months Circuit Breaker that started in April.

Average psf for Resale has moved higher in Jun as compared to the past months due to a higher proportionate resale volume transactions in CCR vis a vis RCR and OCR. As for New Sale, price has moved slightly higher in Jun due to higher sales of units at higher price levels in the CCR area.

Average size of homes sold in Jun 2020 was generally about the same as past months. Resale units sold are generally 11xx to 12xx sft in size while New Sale units sold are around 7xx to 8xx sft in size.

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Landed Private Residential Property (Non Strata)

Sales Volume for 2Q2020 (164 units) was lower by around 50% when compared to previous quarter (334 units) or to the same quarter a year ago (328 units). The huge drop was due to physical viewing restriction imposed as a result of the covid-19 circuit breaker and partial lockdown.