Chart of the Day: Developer launches down 43.8% YoY in the first two months of 2015

The mid-end segment has been stepping up.

Developers pulled back launches in the first two months of 2015.

According to a report by RHB, developers launched only 357 units with no new EC units in Feb 15, down 15.2% MoM and 48.3% YoY. This was way below the 2014 average of 644 units (excl. ECs) and 2013 average of 1,399 units. Developers may also be reluctant to launch new projects during the Chinese New Year season, as sales slowed.

For Feb, including ECs, the mass-market segment accounted for 38% of the launches while the mid-end segment accounted for 59% and the high-end constituted the remaining 3%.

RHB adds that as there were no new EC launches, the mid-end segment has been stepping up in terms of new units to the market, with Sims Urban Oasis by GuocoLand in Feb and Marine Blue and City Gate by Capitaland and World Class Land respectively in Jan.