Following a slow start earlier on in the year, developers’ property sales experienced a firm pick up in the month of May, driving future expectations of a take-off in property sales in the second half of the year. As reported from the developers’ sales survey by the Urban Redevelopment Authority (URA) for May, developers managed to sell 53 per cent more private residential units (1,121 units) than a month ago, or 8 per cent more than a year ago. The heightened levels of transactions may well be due to the launch of four new projects in the previous month, culminating in a 60 per cent month-on-month increase in launch units. Excluding Executive Condominiums, the total number of private homes sold in the first five months was 3,434, albeit 38 per cent lower than the 5,568 units sold within the same time period in the previous year. In May, more than 71 per cent of new private homes sold were from the Outside Central Region (OCR). With ongoing appetite from home buyers and investors, it is projected that home sales will continue on the uptrend in the second half of the year, as seen in launches in April and May where nearly 80 per cent take-up rates were reflected at Verandah Residences and Twin Vew in a single day. In the pipeline, more new launches are expected in the second half, some of which includes the 1,259-unit Stirling Residences, 805-unit Park Colonial, 327-unit Daintree Residence, 1,472-unit Riverfront Residences and Jadescape.