The sub sale of Singapore properties increase three times in second quarter 2009

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

The domestic condominium project are the popular pick during the second quarter of the year. However for investment private property project, it is taking longer to sell. Increase sentiment of new private domestic project has help to increase the number of sell in the sub sale sector.

There was an increase in sub sale transaction to 1200 unit in second quarter of 2009. The more popular projects are the mid tier project.

Casa Merah, Centris and One Amber are some of the popular sub sale projects. 54 sub sales transaction were done at Casa Merah alone during the second quarter, averaging at 0psf, and the price increase to 0psf during June and August. Most popular sub sale private project are Rivergate. Average price of the project is increased from 00psf to 00psf.

For investment private project, most investors go for the Sail and the Icon. Although the project is launched in 2003 and 2005, the price increase 25 and 15 percent respectivley.

Most of the sub sale transaction buyer are investors.

Another factor that add to the increase of transaction are the increased number of units that complete this year. Most of the sub sale unit are transacted near to the completion. Also, for the new project that is sold out, some buyers are buying at above market price for the choice unit.

On the other hand, the flippin transactio had decreased. Flipping means reselling a property fast and making a quick profit.

On the cautious side, market fundamentals are still not stong by the market sentiment is reversed. With the unclear market condition, the market may experience a wait and see situation

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