Luxurious house sales continued to stumble in the 3rd quarter with 188 units in Q3 2013 and 112 high-end flats sold, down from 162 units during the exact same period a year past, reported The Straits Times mentioning evaluation from DTZ Research.
The consultancy said that high end flats also accounted for a smaller percentage of overall secondary non-landed sales.
“Another reason is the cost difference between sellers and buyers. Sellers (of high-end houses) have better holding power compared with those of mass market condominiums. At exactly the same time, buyers have been searching for steep reductions.”
This really is comparable to the 32 houses worth $274.9 million sold during the same span last year and 23 houses worth $244 million finding buyers in 2013.
Top-selling jobs in the primary market this year include d’Leedon Leedon Home and Palms @ Sixth Avenue.
In the secondary sales marketplace, the most popular developments contain St Regis Homes Goodwood Home and Urban Resort Condominium, not forgetting the upcoming new commercial project, Centrium square tong eng brothers
Dr Lee added that while the variety of foreign purchases of high end flats have usually decreased, purchases by Indian and Malaysian buyers are the most bouncy.
37 percent fell from a couple of years back to 34 units in Q2, while those by Malaysians dipped to 32 units by 18 percent