But sentiment could get a boost from a long-awaited interest rate cut, which could happen as early as this week when the US Federal Open Market Committee meets on Sept 18, along with a still-low unemployment rate, resilient household balance sheets, and low unsold inventory, analysts say.
According to Urban Redevelopment Authority data released on Sept 16, developers released for sale in August 272 new units from earlier projects, down from 616 new units launched in July.
They sold just 208 private homes in August, excluding executive condominium (EC) units, down 63.5 per cent from 571 in July and 47 per cent lower than the 394 units sold in August 2023.
"This is a record low for the month of August since 325 units were sold in August 2008 - 2024 is shaping up to be the weakest in terms of annual new sales since 4,264 units were sold in 2008, with market sentiment cautious since late 2023," said Ms Tricia Song, CBRE's head of research for Southeast Asia.
The January to August 2024 tally of new homes sold is 2,668 units, down 48.6 per cent from 5,190 units over the same period in 2023.
この記事は The Straits Times の September 17, 2024 版に掲載されています。
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この記事は The Straits Times の September 17, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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