Private home sales remained moderated compared to June 2014 due to the market sentiments and the availability of new launches in July. As a result, developer sales remain subdued in July with a total of 434 units launched and 484 units sold (excluding ECs).
“May’s exuberant private home market was largely due to two huge projects (Coco Palms and Commonwealth Towers) which accounted for over half of the month's launches and sales respectively. For the months of June and July, however, we see more moderated sales but we could see healthy monthly sales in the future if more projects are priced realistically at levels that would draw in buyers,” commented Mr Mohamed Ismail, CEO of PropNex Realty.
Download the full report HERE.