Private homes: Will land bidding and new home buying be subdued?

This week in Property

• Subdued bidding for housing sites could persist if sales at new condo launches are tepid
• A serviced residences sale and other deals
• Hope springs for Reits as interest rate cuts beckon

On subdued housing land bids

Condo resale volumes in July jumped 32 per cent from the previous month, according to flash estimates from SRX and 99.co. Analysts attributed the rise to a lower base in June due to the school holiday season.

Might some buyers in the private homes market be drawn to resale units because of the large gap in price per square foot (psf) between new and resale units? As it stands, sales of new homes excluding executive condos (ECs) in H1 were 44 per cent less than in the corresponding period last year.