Primary market sales volume pegged to hit 600-900 units in March

Developers gearing up for more launches.

According to Colliers International, as developers gear up for more launches, primary market sales volume is expected to remain in the region of 600-900 units in March before improving further in the following months.

Notwithstanding the improvement in launch and sales volume in February, it appears that the market is slowly approaching a stable state following the implementation of the Total Debt Servicing Ratio (TDSR) in June 2013, cooling off from the exuberance seen in 2012 and 1H 2013.

Now that the government has announced that it is still too early to remove any of the property market cooling measures and with the market more attuned to the various measures and policies implemented, developers should be able to approach the market and time their project launches with more certainty going forward.

Additionally, with developers more acutely aware of attractive price points that will attract homebuyers, they are expected to arm themselves with more creative strategies to move units in the coming projects.

Meanwhile, although homebuyers are expected to remain price-sensitive and adopting a cautious approach in home-buying, they are likely to be on the lookout for good bargains, particularly in well-located and reasonably-priced projects.