Average sales of 5 new projects launched in July dropped to 30 units

Versus May average of 184.

According to Jones Lang La Salle, of the five new projects launched for sale in July, some of them had no sales in August while a couple made slow progress. 

They also compared the average of the top 5 projects with highest sales in May and June (pre-TDSR) with those in July and August.

Here's more from Jones Lang La Salle:

The May and June averages were 184 and 236 units respectively, while the average for July and August were 30 and 80 units respectively.

This shows how demand has slowed post-TDSR. If this trend continues, the days of mega-launches with quick sell-out may be over unless projects are “priced-to-sell”.

In September, we expect some improvement to the launch and sold figures but a sharp rebound is unlikely. Developers have had two months to size up the market and re-evaluate their pricing strategies. Under these circumstances, we could see launch phases with smaller quantum, in keeping with potentially slower demand and lower pricing than originally intended, when the market was more buoyant.