Sub sale of private properties in Singapore increase three time in second quarter 2009

Private Properties Market in Singapore is booming during the second quarter 2009.

The domestic and mid end condominium project are the popular pick in the second quarter of the year. However the sale for investment private property project is taking a much longer time to sell. Increase sentiment of the new private mass project market had entice many sellers for the sub sale sector.

Sub sale are referring to the sale of uncompleted project by the buyers had increase 3 fold to around 1,200 units in second quarter of the year. The mid tier project are the more popular and common choice as compare to the high end project.

One Amber, Centris and Casa Merah are the popular choice among the sub sale projects. In second quarter alone, Casa Merah held a record of 54 sub sales transaction with an average price of 0 psf, which further increase to about 0psf in July and August. Most popular sub sale project is Rivergate. The average transacted price increase to 00psf from 00psf.

For investment project, The Sail at Marina Bay and Icon at Tanjong Pagar became the favourite among the investors. Even though the project is launched in 2003 and 2005, the price increase 25 and 15 percent respectively.

Most investors are responisible fo the sub sale transaction.

Another factor that add to the the increase of sub sale are that there are many units completed this year. Most of the sub sale occurs for a project when it is near to completion. Also, new project launched sell out quickly and some buyers who missed out the opportunity do not mind paying a premium for the choice unit they want.

On the other side, the number of flipping transaction had reduced. Flipping occurs when someone buys a property and resells it fast for a quick profit.

On the careful note, the market fundamentals are still not strong but the market sentiment is bullish. With the unclear market condition, the market may experience a wait and see situation

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