Singapore's 2016 total home sales could stay flat

The number of homes sold is projected to range within 7,000-7,500 units.

Research consultancy firm CBRE estimates that total sales for the year should fall within 7,000-7,500 units, similar to 2014 and 2015's levels.

Looking to Q4 2016, CBRE sees the launch of the Alps Residences, Forest Woods Residences, Parc Riviera and Queen's Peak could lead to in 1,800-2000 new homes being sold.

In Q3, developers sold around 1,900 units from the three new project launches and ongoing projects. By end-September, developers sold around 5,500 new homes. Of the three new projects, Lake Grande alone sold some 500 of its 710 units during the quarter.

"The strong take-up was probably boosted by the government's plan to develop Jurong Lake District as a second Central Business District," it said.