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Tag: home sales

  • New Home Sales Rise in Shanghai and Shenzhen After Beijing Policy Shift

    New Home Sales Rise in Shanghai and Shenzhen After Beijing Policy Shift

    Sales of new homes in cities like Shanghai and Shenzhen rose in September 2026 after central government moves were introduced to revive buyer confidence in the real estate market.

    Property brokers across China’s major cities, including agents at Lianjia in Shanghai, reported being swamped by inquiries as they try to seal as many deals as possible amid a recovery in sentiment.

    Demand returns to top-tier cities

    Real estate agencies in China’s wealthiest metropolitan markets are managing heavier foot traffic, though brokers like Yang Keju warn that the current high transaction volume could become short-lived.

    The current upturn concentrates heavily in primary tier-one hubs where household wealth remains highest and inventory absorption happens fastest. Developers with projects ready for handover in these locations are taking advantage of the window to offload existing inventory.

    Agency networks push for rapid closures

    Front-line brokerages have redirected agents toward immediate deal execution rather than long-term pipeline building. Agencies want contracts signed before buyer sentiment cools.

    “Government support always holds the key to the performance of the home market,” said Yang Keju, a broker at a Lianjia property agency branch in Pudong, Shanghai. “We are worried that the current high transaction volume could become short-lived.”

    Brokers eye duration of policy effect

    Earlier support packages produced short bursts of buying that dissipated within weeks. For developers and commercial landlords, the critical test is whether this volume spreads beyond premier districts into lower-tier cities where developer cash flow remains constrained.

    Brokers in suburban districts continue to face high unsold supply and cautious households. Without continuous credit expansion or deeper municipal rate reductions, transactions outside core metropolitan zones risk stalling.

    Market watch on upcoming clearance rates

    September transaction registries will provide the first concrete measure of total cleared contracts across Shanghai and Shenzhen following the policy shift. The full impact on developer balance sheets depends on whether transaction numbers carry through the fourth quarter.

  • Singapore’s Private Home Sales Dive 53% in May, with Just 312 Units Sold!

    Singapore’s Private Home Sales Dive 53% in May, with Just 312 Units Sold!

    In a striking turn of events, Singapore’s real estate market experienced a significant dip in new home sales in May 2025, hitting its lowest point in five months. The PropNex report reveals that only 312 new private homes were sold, excluding executive condominiums, a staggering 53% decline compared to April’s 663 units. While the year-on-year comparison shows a more optimistic picture with sales up 40% from May 2024, the current slump highlights a worrying trend.

    A Drought of New Projects

    This decline comes as no surprise, with May marking the first month in 2025 devoid of new project launches. Analysts noted that fresh projects typically stimulate monthly transactions, and a subdued launch activity in June suggests that developers’ sales may continue to lag. In fact, only 20 new units were made available in May, all from the previously launched project The Myst. This number is notably low, matching the weakest monthly launch figures since 2009, alongside December 2024’s 20 units.

    Market Dynamics: The Rest of Central Region Shines

    May’s sales data tells a nuanced story, especially in the Rest of Central Region (RCR), where 191 units changed hands—down 65% from April’s surge of 551 units, thanks largely to the launches of One Marina Gardens and Bloomsbury Residences. Impressively, the RCR made up about 61% of total transactions for the month, with One Marina Gardens leading the charge, selling 62 units at a median price of $2,975 per square foot. The Hill @ One-North also performed well, indicating that collaborations with neighboring projects, like Bloomsbury Residences, can create buzz and drive sales.

    A Slow but Steady Performance in the Outside Central Region

    Meanwhile, the Outside Central Region (OCR) saw a modest uptick with 106 new units sold, compared to 95 in April. Although this marked one of the slowest sales months in the OCR this year, it followed a strong uptake from earlier projects like Parktown Residence and ELTA. Hillock Green was the standout project, moving 17 units at a median price of $2,285 psf, while the majority of units at the six projects in the Lentor Hills estate were already sold.

    Core Central Region: A Tale of Two Markets

    Sales in the Core Central Region (CCR) remained uninspiring, with only 15 new units transacted. Watten House led this sub-market with four units sold at a median price of $3,255 psf. Interestingly, three units sold for over $15 million each, including a lavish 4,489-sq ft unit at 21 Anderson that fetched an astounding $24 million, a telling sign of Singapore’s high-end market’s resilience amidst the overall slowdown.

    Executive Condominiums Take a Hit

    The executive condominium segment faced challenges as well, with only 24 new units sold in May, down by 75% from April. Yet, hope springs eternal with the anticipation of the upcoming launch of 600-unit Otto Place EC in July 2025, fueled by a mere 38 unsold new ECs remaining on the market.

    As the market navigates this interesting phase, one wonders if the lack of fresh launches might unlock more innovative strategies from developers to reinvigorate sales. Who knows, perhaps a surprise project announcement could shake up the market in an unexpected twist!

    Questions & Answers

    What were the total new private home sales in May 2025?
    Only 312 new private homes were sold in May 2025, marking a sharp drop from the 663 units sold in April.

    Which area led the new home sales in May?
    The Rest of Central Region (RCR) led the sales, with 191 units transacted, accounting for about 61% of all transactions.

    How did the executive condominium segment perform?
    The EC segment saw a significant decline, with only 24 new units sold in May, down 75% from the previous month.