About nearly 1 year ago, sub-sales here hit a 10-year high. Sales of uncompleted homes, known in the industry as sub-sales, almost doubled to 1,184 between April and June 2007 for private non-landed homes, according to new figures released by property firm Savills Singapore (reported in The Straits Times on the 14th of July 2007) 

During that time, more than half the sub-sales in the period took place in Districts 1 to 4 and 9 to 11, which cover Orchard, River Valley, Bukit Timah, Newton, Shenton Way, Marina Bay and Tanjong Pagar. Where many new luxury high-end apartments and developments such as The Sail @ Marina Bay, Shenton One etc were launched in H1 of 2007.

Sub-sales figures are normally used as a proxy for speculative activity in the real estate market. Some buyers will purchase the units either at pre-launch events or in the early days of the launch. Quality units are normally snapped up and resold later for a profit. With the deferred payment scheme launched by the banks which sent property prices to dizzy heights in the past 18months, some punters are holding out until the property is to receive its TOP.

In Q1 2008, some of the hot properties for subsale like the Icon, Citylights and Varsity Park Condo have just received its TOP, and sub-sellers are now quickly off loading their properties to buyers who are keen to buy these units as they are now immediately available to rent or for own stay. Sub-sellers cater to those buyers who want to see the actual finished product before they commit to the purchase. Given the present situation of mortgage interest rates climbing slowly, they are eager to sell off the properties that are on hand just before they have to make the bulk payment (normally of 80% of the sale price) to the developer.

Other developments to take note for available sub-sales would have to be: Sky@Eleven in Thomson Road and City Square Residences.