Chart of the Day: See Singapore’s lethargic property market without the ECs

Home sales crashed 67.7%.

November’s take-up rate, including ECs, suffered severely at 48% from 132% last month.

OSK-DMG says that this was mainly attributed to a large number of new unit launches (especially ECs) and low take-up rate from projects like Sophia Hills, Bellewaters, Bellewoods and Tre Residences.

New home sales at 412 for November 2014 were down 46.1%/67.6% MoM/YoY vis-a-vis 765 units in Oct 14, 648 units in Sep 14 and 437 units in Aug 14.

Year-to-date, 7,296 units (excl. EC) have been registered, down 52.1% YoY, and a far cry from the peaks levels of over 22,000 units attained in 2012.

In terms of sales composition, the mass-market accounted for 82% of total sales (driven by EC sales), while the mid-market and high-end segments accounted for 12% and 6% respectively.