2013 primary home sales predicted to slump to 16,000-18,000 units
It will be an 18% decrease.
According to OCBC, their base case is for FY13 primary sales (excluding EC) to slow to 16k-18k units sold – an 18% to 27% dip versus 22k units in FY12.
The market has clocked in 10k units sales in 1H13, and we expect the rate to further ease as it digests the impact of the latest curbs.
"That said, we view a primary sales rate of 16k per year pointing to a still relatively healthy market," OCBC said.