Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting to read:%0A%0A {0} %0A%0A {1}

Cushman & Wakefield's Comments on URA February 2022 Developer Sales

Xian Yang Wong • 15/03/2022
Given seasonal factors such as Chinese New Year festivities, an absence of major new launches, and low levels of unsold inventory, new home sales dropped by 22.5% m-o-m to 527 units sold in February 2022 as compared to 680 private home units transacted in the previous month. On a year-on-year basis, February sales volumes were 18.3% lower than the 645 new private homes sold during the same period in 2021.

URA Comments February 2022

As at end Q4 2021, the unsold inventory was at record low of only 14,333 units. Given low levels of unsold inventory and dwindling options in existing new launches, some homebuyers could have opted to hold back on their purchases and wait for new launches where they would have more options to choose from. 

URA Comments February 2022 - 2

There was only one new project launch last month, namely the 32-unit Royal Hallmark, which managed to sell 10 units at a median price of S$1,905 psf. 

Nonetheless, units continue to move at existing popular projects and are almost sold out. The top selling projects during February 2022 include Normanton Park (85 units sold), Avenue South Residences (32 units sold) and Dairy Farm Residences (32 units sold). As of Feb 2022, all three projects are at least 89% sold out. 

While the latest slew of cooling measures has cooled the market, underlying demand for private residential properties remains relatively healthy driven by recovering economic conditions and rising HDB resale prices which would support HDB upgrader demand. 

As such, volumes are poised to pick up in Q2 2022 onwards on the back of new launches entering the market. Upcoming new launches includes The Arden, Liv @ MB, Piccadilly Grand, Lentor Modern, new launch along Ang Mo Kio Ave 1 and Slim Barracks Rise (two parcels) as well as mixed development at Tanah Merah Kechil Link (next to the MRT station) and Jalan Anak Bukit amongst others.

Recent Press Releases

Hotel Construction
Data centre construction cost increases of up to 8% across region year-over-year but development shows no sign of pausing

Japan has been named the most expensive market for data centre construction while Singapore has topped the rankings for the most expensive land costs in Asia Pacific, according to a new report.

Amy Kathleen Kelly • 06/11/2023

JTC Quarterly Market Report card image
Cushman & Wakefield Comments on JTC Quarterly Market Report Q3 2023

Overall industrial prices and rents continued to edge up by 1.4% qoq and 2.0% qoq respectively for the 12th consecutive quarter in Q3 2023.

Xian Yang Wong • 27/10/2023

More pragmatic approach to esg needed to help building owners, investors, occupiers transition from brown to green

Cushman & Wakefield has launched a series of how-to guides to provide building owners and occupiers with practical, step-by-step advice on transitioning to greener buildings.

Amy Kathleen Kelly • 19/10/2023

fit out guide
Asia Pacific’s post-pandemic office: more expensive to build, but as important as ever

Persistent inflation, tight labour markets, and ongoing supply chain delays have increased average fit out costs across Asia Pacific, according to Cushman & Wakefield’s 2023 Asia Pacific Office Fit Out Cost Guide, but major occupiers are absorbing the higher spend in their quest to improve return-to-office rates.

Amanda Phua • 30/03/2023

Matthew Clifford
Cushman & Wakefield bolsters presence in the Sustainability & ESG space with key Global, APAC appointments

Cushman & Wakefield has announced two key leadership appointments as part of its ongoing commitment to improved sustainability outcomes for its clients and the built environment.

Amy Kathleen Kelly • 22/02/2023

handshake (image)
Shankar Narayanasamy appointment
Cushman & Wakefield Appoints Shankar Narayanasamy as Client Solutions Lead for Global Occupier Services, Asia Pacific

Cushman & Wakefield, a global leader in commercial real estate services, today announced the appointment of Shankar Narayanasamy as Client Solutions Lead for its Global Occupier Services (GOS) business in Asia Pacific, effective 9 May 2022. 

Amanda Phua • 18/05/2022

10 Toh Guan Road East Singapore
10 Toh Guan Road East for Sale by Expression of Interest

10 Toh Guan Road East (the “Property”) has been put up for sale via an Expression of Interest (EOI). Cushman & Wakefield is the appointed exclusive marketing consultant for the sale.

Brenda Ong • 04/04/2022

C&W Services reimagines the future of work with the transformation of its headquarters at Chai Chee

Officiated by the Guest-of-Honour, Speaker of Parliament Tan Chuan-Jin, the new workplace embodies the firm’s commitment to Diversity, Equity & Inclusion (DE&I) and the adoption of smart technology that promotes both sustainability and well-being.

Chek Yee Foo • 23/03/2022

Asia Pacific Transaction Volumes Expected to Record Double-Digit Volume Growth in 2022 and 2023
Asia Pacific Transaction Volumes Expected to Record Double-Digit Volume Growth in 2022 and 2023

Global real estate market recovery is expected to hit the fast lane, with Q4 2021 volumes driving annual increase of 55%. 

Jayna Poh • 01/03/2022

Singapore Office Market Poised for Another Robust Year in 2022
Singapore Office Market Poised for Another Robust Year in 2022

Following a strong recovery in office demand, reduced vacancies and growth in CBD Grade A office rents in 2021, the Singapore office market is expected to further pick up pace in 2022.

Amanda Phua • 07/02/2022

A Challenging 2020 Ahead But Greater Opportunities for Occupiers

Cushman & Wakefield has released their APAC Office Report: Outlook 2020, which has indicated greater opportunities for occupiers despite a challenging 2020 ahead resulting from the COVID-19 outbreak.

James Shepherd • 24/03/2020

With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All