Developer sales predicted to hit 17,000-18,000 for 2013

Will they withstand headwinds?

According to Jones Lang LaSalle, their full year forecast for developer sales is between 17,000 and 18,000. As more than 8000 units have been sold in the first five months of 2013, the next seven months could see sales of 9,000 to 10,000 units barring major external shocks.

There is a possibility that sentiments might be affected by market volatility arising from the Fed’s announcement on liquidity pull-back.

Mr Ong Teck Hui, National Director, Research & Consultancy, Jones Lang LaSalle comments: “It’s been five months since the latest cooling measures were announced and the residential property market has normalized and returned to stability as reflected by the May data.

We see projects with better attributes performing well with good take-up rates e.g. Corals at Keppel Bay, KAP Residences, Whitehaven and Liv on Sophia. RCR take-up, accounting for 41% of total sales shows a pick-up in demand for this market segment.

Projects in RCR appear as value propositions as they may be nearer the city and yet more affordably priced than CCR projects. OCR still dominates sales take-up accounting for 50% of total take-up. Demand from buyers in the mass market is still resilient as we see keen response to Stratum, an entry-level private housing project."

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