"We estimate 86 per cent of the total developer sales in June were at the median price of $1,000 per square foot to $2,000 psf, similar to May," said Ms Tricia Song, head of research for Singapore at Colliers International.Last month, 597 new private homes were launched for sale, down from 615 units in May and a decline of nearly 11 per cent from the 670 sold a year ago.
Mr Ong Teck Hui, senior director of research and consultancy at JLL, said:"OCR posted a 4.2 per cent increase over the first quarter, while RCR and CCR suffered declines of 10.7 per cent and 60.4 per cent respectively. The OCR sub-market has proven more resilient, due to more affordably priced projects and demand from HDB upgraders."
Developers may offer selective discounts to maintain sales momentum, said Mr Leonard Tay, head of research at Knight Frank Singapore.
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