During the December holiday season, private property launches dwindled to a virtually a standstill. Developers chose to sell units from older developments to avoid a backlog of unsold units as reported by analysts who follow the statistics and data released by the URA on Thursday.
The Terrace was only one new launch in December of an executive condominium (EC) on Punggol Drive. This development added 747 units with an average price of $831 psf of which already 128 units have been sold for Kingsford Waterbay.
Kingsford Waterbay Developer
Excluding the EC’s units launched by developers dropped 94% from November and hit a record low of only 53 units since recording of this information started in June 2007.
In December, only 230 private homes were sold with a car responding drop of 46% from the 423 units that homeowners bought in November.
This is the lowest sales volumes since January 2009 …