The secondary residential market overall sales in Aug 2020 exceed that of in 2019. This is the effect of the “pent-up” demand caused by the circuit breaker. As more resale properties are sold, there will be more funds floating in the market and some owners either will reinvest their funds or find replacement home. With that, we would expect to see more new launch units sold as there’s dwindling supply in land over the next few years. With the dwindling supply of land as Government cuts down on supply of land by way of Government Land Sale (GLS) programme, we would anticipate huge interest from the public for the launch of Irwell Hill Residences in 2021.
Source: The Straits Times
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