Private home sales in S’pore this year could be higher than 14,800 units: DTZ

Source : Channel NewsAsia – 29 Sep 2009

Property consultant DTZ said sales of private homes here this year are likely to be higher than the record of 14,800 units sold in 2007.

In a report, DTZ said there was a “frenzied” level of activity seen in the third quarter this year.

That led to a record number of more than 2,700 homes sold in July.

DTZ is forecasting that the record of some 5,100 units sold in the second quarter of 2007 will be surpassed in the current quarter on the back of the strong momentum.

It added that the average private home prices continued on the uptrend in the third quarter this year.

In addition, DTZ said rental values found some stability in the third quarter after four consecutive quarters of decline.

For the rest of the year, DTZ said sales volume in the private residential market is likely to ease due to fewer projects in the pipeline.

Recent measures by the government to cool the market, like the removal of the interest absorption scheme, may dampen sales too.