,Singapore

Singapore new home sales rebound 9% to 909 units in October

This is excluding executive condominiums.

After two consecutive months of decline, new home sales in Singapore finally recovered in October. OrangeTee says housing demand held up well during the month despite strict viewing restrictions and visitor caps at show galleries. 

According to the Urban Redevelopment Authority (URA) sales survey, new home sales excluding executive condominiums (EC) rebounded by 9 per cent from 834 units in September to 909 units in October. Sales were 39 per cent higher year-on-year. 

Here’s more from OrangeTee:

As developers did not launch any new EC projects last month, new home sales, including EC units, slipped by 19.4 per cent month-on-month (mo-m) to 1,045 units. Despite the decrease, the numbers are the highest monthly sales (including EC units) for October in five years, indicating resilience in the property market. Compared to a year ago, new sales including EC units increased by 50.6 per cent. 

Demand is holding up well across all market segments. Last month, sales were well distributed across all three market segments, with the Outside of Central Region (OCR) registering 38.2 per cent of total sales excluding EC. This is followed by the Rest of Central Region (RCR) at 30.9 per cent and the Core Central Region (CCR) at 30.9 per cent. 

Sales were brisk at several launched projects. Some projects like Dairy Farm Residences, The Jovell, The Avenir and The Woodleigh Residences registered more robust sales when compared to September. The best-selling projects in October were Jervois Mansion, Parc Greenwich, Normanton Park, Dairy Farm Residences, The Jovell, The Florence Residences and Parc Clematis.

Get the full report here.

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