The private housing market is characterized by low turnover and minimal initial projects. The number of private residential units fell 51.6%. This means that only 7,693 units were built in 2014, compared to 15,885 units in 2013. By reading this article you can get the best information about Pullman residences price in Singapore.
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Market sales fell by around 51%. Approximately 14,948 units were sold in 2013, but only 7,316 new private homes were sold in 2014. A key feature in 2014 was the sharp decline in sales. Without government cooling measures, the market will likely be the same in 2015.
The slow growth only reached 2.8% in 2014, well below 3.9% in 2013. One of the reasons why fewer units were sold in 2014 maybe because this is the developer too, fewer units were released in the year 2014. The delay in new launches may be due to poor awareness.
Developers can monitor the performance of their competitors and decide to limit the start of the project. With the recent hike in interbank interest rates, an increase in mortgage rates is expected. This will lead to a sharp decline in domestic prices in 2015.
There was an oversupply of private apartments in 2014, with prices expected to fall by at least 20% in 2015..
As of November 2014, the developer only sold about 412 private residential units. The expected decline is 47.5% based on the 785 units sold in October.
November was the lowest sales of private homes in 2014. The developer saw no point in opening a new home as sales and demand results were less than impressive. Sophia Hills and TRE Residences are the only private residential projects that started in November.