Developers' conservative approach decreases condo launches in September - KF

Despite this, KF pegs their estimated total sales for the year at 13,000 units.

A wait-and-see approach from developers is to blame as September records the second-lowest amount of condominium launches for the year, according to a report from Knight Frank (KF).

In September, the Urban Redevelopment Authority logged 210 units launched, only slightly higher than the monthly low of 167 units in February. KF attributed this to the changing environment due to the volatility of COVID-19. 

Primary sales in the private residential sector also saw a decrease by 31.4% month-on-month to 834 units as a result of this approach. By comparison, August had 1,216 units sold. 

On the other hand, however, an estimated 1,400 resale transactions took place in the month due to the lack of new launches.

KF also expects a final number of 13,000 new sales transactions for the entire year. This is based on the 6,458 primary sales in the first half of 2021, along with the monthly developer sales from July to September.  

The Vaccinated Travel Lanes are also seen to play a factor in this performance as foreign buyers enter into the market once again. Sales in the Core Central Region, in particular, are expected to experience a boost. 

Highly-anticipated projects at Canninghill Piers, Liv@MB, The Commodore and Perfect also are expected to drive up sales.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Singtel had the most growth for the day.
This is despite its improved performance in two categories.
The expected increase will be driven by three factors.
The two also discussed post-pandemic recovery.
It also recorded a strong performance for H1 2021, despite a net loss of $150.6m.
Jigger & Pony found itself retaining its ninth ranking.
The moderate increase was driven by expansions in five out of six indicators.
Perpetual (Asia) Limited is on the other end of the agreement, as the purchaser.
CLSA will serve as issue manager of the proposed spin-off and listing.
Yangzijiang Shipbuilding had the most growth for the day.
The new facility is the first of its kind in Singapore.
Proceeds will be used for Olam's general corporate purposes.
The completion of divestment will take place during the first quarter of 2022.
This is to raise gross proceeds of more than $200m.