Sub-sales are resale of projects before their completion, and the data is based on caveats lodged. Sub-sale figures tracked by caveats lodged, however, are not very accurate as ‘flipping’ of Option to Purchase (OTP) are not captured.
Total number of sub-sale transacted in the 2Q was 1,254, which was 9.7% of total sales.
| New sales | Sub-sale | Resale | Total | Sub-sale% of total | |||
| Period | Uncompl | Compl | Sub-total | ||||
| 1Q 07 | 4,565 | 218 | 4,783 | 749 | 4,645 | 10,177 | 7.4 |
| 2Q 07 | 4,820 | 309 | 5,129 | 1,254 | 6,514 | 12,897 | 9.7 |
Sub-sales index is to track how widespread speculation is. During 2Q96 property peak, sub-sales formed about 28% of total sales, and led to Government intervention that really cool down the market.
* SISV-News 21Aug *
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