Buyers to be ‘bargain hunting’
“Buying interest will remain selective. With two consecutive months of increased volume, there is a definite pick-up in momentum but whether it can be sustained largely depends on the project’s location and its pricing,” said Mr Ismail Gafoor.
With no changes to the government curbs on the horizon in 2015, transaction volume will continue to be launch-driven; largely dependent on the price and location of the project.
The luxury segment is also showing signs of a pickup due to strong performance of OUE Twinpeaks. Prices have reached a level whereby it is highly attractive to potential buyers.
“Sales performance will likely hover at an average of about 500 to 700 units per month for the rest of the year. For the whole of 2016, we envisage sales volume to be between 7,000 to 8,000 units in all.
“In Q3, the upcoming launches of Northwave and Treasure Crest ECs, and Lake Grande boost volume as developers look to step up their launch activities before the Hungry Ghost Festival hits in August”, commented Mr Ismail Gafoor.