Primary market is flourishing as several newly projects launch, supported to the residential sector. In Aug, a total of 4,137 transactions were registered in the residential market, rebounded 13% m-o-m. Among, a total of 1,564 transactions were recorded in the primary market, surged 33% m-o-m to a 9-month high as developers adopted competitive pricing strategies and successfully captured purchasing power. Newly projects ‘Novo Land’ and ‘One Innovale’ have achieved decent sales, accounting for nearly 67% of total home purchases in the first-hand market.
The secondary market slightly increased by 3% m-o-m to 2,573 transactions in Aug, remained at a certain low level as upwards pressure on local interest rates. With a weak market sentiment, the private domestic price declined by 1.65% m-o-m to 376.1 points in July and reached a 29-month low. The home price slipped by 4.52% this year, according to the….
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