ST : Home sales up but not in value

Dec 14, 2009
Home sales up but not in value
By Joyce Teo, Property Correspondent

ALMOST as many homes will be sold this year as in the previous boom of 2007, but the quantum of sales is still only at about 60 per cent of the previous peak.

This is because less high-end homes were sold this year, unlike in 2007 when these homes stole the limelight, according to a new report released on Monday by property consultancy CB Richard Ellis (CBRE).

The large-scale mass market projects that were either fully sold or nearly sold out this year include Caspian in Jurong, Double Bay Residences in Simei, Mi Casa in Choa Chu Kang, The Gale in Flora Road.

Successful mid-tier projects include The Arte and Vista Residences in Jalan Datoh.