Sales of new homes over the past week were dampened by cautious buyers and the lack of big new launches.
Far East Organization (FEO) sold 63 units in all of its properties (excluding Eight Courtyards) over the past week, with 46 units snapped up at Woodhaven alone.
The average price of the 337-unit development’s 125 homes has been changed to S$931 psf, since the start of its private preview earlier this month.
FEO’s Waterfront Gold and Waterfront Key sold two units each over the week, while three units were sold at Waterfront Isle.
Meanwhile, the cluster project Eleven at Holland has found buyers for 14 units at an average price of S$1,050 psf. Located at Old Holland Road, the project was developed by Clydesbuilt Group and was launched on 11 June.
At an average price of S$485 psf, the Woods in Jurong saw 30 units sold over the same period, while FEO’s and Frasers Centrepoint’s Eight Coutyards in Yishun has recorded 18 sales this month.
Market experts believe the lack of big new launches over the weekend indicate reduced interest and lower sales, although they have also taken into account an increasingly cautious mood among home buyers.
Wendy Tang, Director of Residential Services at Knight Frank, observed that the crowds at showflats have declined, possibly because of the school holidays but maybe also in response to the cautionary remarks National Development Minister Khaw Boon Wan made in his blog.
“There has definitely been some impact, with some buyers holding back,” Ms. Tang said.
“Those not in urgent need of a flat are taking their time and going round to different showflats before making up their minds.”
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