ERA clinches 52% of home property transactions in October

Property agency ERA says it has clinched a 52 percent share of property transactions for the month of October.It based its claims on the record 871 deals its property agents signed last month.

This is against the monthly average of 1,676 transactions signed for private residential new projects and resale segments since the start of the year.

The 871 transactions signed by ERA are based on the sales of private residential units in new project launches and the secondary resale market.

This is the highest number of transactions the firm has handled in its 24-year history.

The transactions amount to over $766 million worth of private residential properties transacted in just one month.

The figures exclude ERA’s other transactions like private residential rental and commercial sales and rental.

HDB sales and rental as well as collective sales have also not been included.

ERA says it is confident the property market will remain buoyant despite the fourth quarter being a traditionally slow period.

“If you look at the high-end property, prices and demand have increased. This also translates to mid-market and mass market. We’ve got good reason to believe that this will also spill over to the HDB market. Those who are on the borderline may have no choice but to go into the bigger HDB units. And that will add excitement to the entire HDB market,” says ERA’s president Jack Chua.

ERA’s achievement last month was made possible due to its agents selling more than 80 percent of the released units of The Centris condo in under three weeks.

This month, ERA sold 188 units of The Metropolitan in under one week when CapitaLand and Lippo launched the project.

Source: Channel NewsAsia, 15 November 2006 

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