Recently launched projects boost new home sales in 1H

They comprised about 70% of total units sold.

The residential market saw a pick-up in buying activity in Q2 2016 as more new projects were launched. Around 2,100 new homes were sold or 1.5 times of Q1 2016's volume. This brings 1H total units sold to 3,500-3,600.

The two major new launches in Q2 2016 are Sturdee Residences and Gem Residence which slightly more than half of the units.

Another new launch, Stars of Kovan, which will have an adjoining retail podium when completed, was about 23% sold.

CBRE Research observed that around 70% of the new homes sold in 1H came from project launched previously.

"This could be attributed to buyers waiting on the sidelines being swayed by projects nearing completion as well as increased incentives offered by developers to both buyers and marketing staff.

The projects which moved more than 100 units were Botanique at Bartley, Kingsford Hillview Peak, Kingsford Waterbay, Sims Urban Oasis, the Glades and the Poiz Residences.