Market Trend for Private Residential – 3Q2020

Post author:cptan
Post published:October 26, 2020
Post category:Market Trend

Further Analysis:

Non Landed Residential Property - Apartments & Condominium

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

Compared to last month, Sep 2020 volume was almost flat at 2116 units vs 2123 in Aug 2020. Demand for Developers’ Sales continue to be strong despite the economic downturn, partly contributed by the excellent sales from the Penrose Condo new launch in D14.
Compared to the same period last year, Sep 2020 volume was higher by 319 units or 17.8%. (2116 in Sep 2020 vs 1797 in Sep 2019). This was supported by buying demand in both Developers’ Sales and Resale Markets.
In comparison to 2Q2020, 3Q2020 sales volume was also higher by 3703 units or 155.1% (6091 in 3Q2020 vs in 2388 in 2Q2020). This was due to a sharp rebound in both primary and secondary markets after the two months Circuit Breaker in April and May. This can be attributed to the unprecedented fiscal stimulus, including job support schemes, the ultra-low interest rate environment, and the buoyant public housing or HDB resale market that enables upgraders to afford new private homes

Average psf for Resale has moved slightly upwards in Sep as compared to the past months due to transactions in CCR and RCR were at higher psf. As for New Sale, price has moved lower in Sep partly attributed by the successful launched of Penrose at very attractive price in that month.

Average size of homes sold in Sep 2020 was generally about the same as past months. Resale units sold are generally 11xx to 15xx 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 3Q2020 (511 units) rebounded by around 211.5% when compared to previous quarter (164 units) and by 39.6% compared to the same quarter a year ago (366 units). The huge increase was because physical viewing was able to resume after the lockdown was partially lifted.