New private home sales fall for 2nd month
Developers sold 1,024 homes (Excluding ECs) in May 2017, a fall of 34 per cent from 1,558 units in April. Developers only released 339 condo units in May, compared to 1,616 in April. However, buying sentiments has been positive with new sales exceeding 1,000 units for three consecutive months. Home buyers who have been sitting on the fence seemed to be getting back in the market.
CEO, PropNex Realty Mr Ismail Gafoor highlighted, “More consumers will come to a realisation that the market has bottomed out and prices are likely to inch upwards with strong land-bid prices we are witnessing.” He expects the number of new home sales transaction (Excl ECs to cross the 10,000 mark by end of 2017.
For more, read our press release at https://www.propnex.com/pressrelease/319
