Chart of the Day: Here are the 12 major residential launches in Q3

Guess which project gained 3-digit sales volumes.

According to Savills, as the picture became clearer, developers launched 979 units and 1,806 units in August and September, representing a MoM increase of 75.8% and 84.5% respectively.

Launched in mid-August, The Tembusu, a 337-unitfreehold condominium, was the main contributor to that month's sales, as it was the only project to have achieved three-digit sales volumes (218 units sold).

The healthy response to The Tembusu and the general rebound in August’s new sales numbers suggested that the sudden contraction in July was only temporary, as developers withheld new launches to watch how the market reacted, while buyers digested the new measures and assessed their borrowing limits in accordance with the TDSR.

In September, projects like Sky Vue and Thomson Three saw good take-up of 85.7% (433 out of 505 units launched) and 82.5% (264 out of 320 units launched) respectively.

The stellar performance of these projects signifies the resilience of the demand in the primary market. However, slower sales at some other launches during the same period showed that genuine home buyers and investors are now more circumspect when making their purchases, as a result of the various rounds of cooling measures and more recently, the TDSR.

Projects that are perceived to be reasonably priced and located in easily
accessible areas that had not seen many launches in the past are likely to enjoy better take-up.