According to Knight Frank (KF), September saw the second-lowest number of condominium launches in the entire year due to developers’ wait-and-see attitude.
The houses from Belgravia Ace ebrochure are well planned to provide maximum space and comfort to the residents. As one of the most renowned developer, Tong Eng Group has started developing properties slowly building a reputable name for themselves.
The Urban Redevelopment Authority launched 210 units in September. This is slightly more than the February low of 167 units. KF attributes this to the volatile COVID-19 environment.
This approach also led to a 31.4% decrease in primary sales in private residential sectors, which fell to 834 units. August saw 1,216 units being sold.
However, due to the absence of new launches, approximately 1,400 resale transactions occurred in the month.
KF expects 13,000 additional sales transactions for the whole year. This figure is based upon the 6,458 primary sales for the first half 2021 and the monthly developer sales between July and September.
This performance is also attributed to the Vaccinated Travel Lanes, which are seen as a key factor as foreign buyers return to the market. The Core Central Region will see a significant increase in sales.
Sales are expected to rise due to highly anticipated projects like Liv@MB and Perfect, as well as Liv@MB and Perfect.