OrangeTee Research: Analysis of Launch and Sales of Units by Developers in 2018 May
New home sales surged amid more launches in the month
Developers’ new home sales excluding Executive Condominiums (ECs) surged 53.1% month-on-month (m-o-m)
and 7.9% year-on-year to 1,121 units in May. The increase in sales volume is mainly attributed to more projects
being launched in May as compared to April. A total of 1,060 units were launched in May, up from 664 units in
April. Some of the key project launches include Twin Vew, Amber 45, Sixteen35 residences, 120 Grange and Sea
However, including ECs, developers’ new home sales dipped 5% m-o-m to 1,257 units. This is due to a lack of EC
projects being launched in May; where no new EC units were added whereas 512 EC units were launched in April.
The strong buying interest seems to have returned to all market segments with a higher percentage of sales
registered for the Outside of Central Region (OCR). New home sales in OCR dominated 71% of the market share
in May 18, up from 39% in May 16 and 60% in May 17 (see chart below). We foresee that demand for homes in
OCR and RCR will continue to surge as more mega projects are slated to be launched from these regions in the
Riding on the current sales momentum, many developers have launched/ relaunched/ planned to launch their
projects in June, including The Garden Residences, Affinity at Serangoon, Margaret Ville, Marina One Residences
(Phase 2) and South Beach Residences. This is rather unusual as most developers would typically avoid the June
holidays to launch any major projects as seen from a dearth of major launches in the months of June from 2015
to 2017. We foresee that the World Cup season has limited impact on the market as the buying sentiment is
currently strong and many of the matches are not held in the wee hours of the night. Therefore, we expect sales
to remain healthy in June.
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