This will be driven by higher project launches from government land sales and collective sales.
Colliers International reported a forecast of Singapore’s developer sales, rising by 19% to 12,600 units this year, which is highly driven by more project launches from government land sales and collective sales.
“We expect February to follow January’s trend as developers hold back launches during the Lunar New Year festivities. Come March and April, there could be more launches with The Tapestry at Tampines, Twin Vew at West Coast, Margaret Ville at Margaret Drive, and Amber 45 waiting on the sidelines,” Tricia Song, head of research for Singapore at Colliers International, said.
In 2017, developers sold 10,566 homes, up by 32.54% from 7,972 in 2016.
“We believe the better-than-expected GDP growth of 3.6% for Singapore last year and the firm economic outlook for 2018 should continue to drive positive sentiment and confidence in the property market,” Song added.
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