Reversing October’s downturn, private home sales in Singapore was up 18.9% in November according to the Urban Redevelopment Authority (URA).
767 units from private developers were sold last month—relatively higher compared to October’s 645 units. This is, however, a significant drop compared to the figure from the same period last year, when 1,165 private homes were sold.
58 per cent, or 447, of the units sold were in the Rest Central Region; 31 per cent or 236 units, were in the Outside Central Region; and 11 per cent or 84 units, were sold in the Core Central Region.
More project launches
The uptick in the private home sales is mainly driven by the placement of 1,375 units for sale, three times more compared to the 423 units for sale in October.
November saw the launch of two new projects: The Linq @ Beauty World and The Landmark in Outram. These 2 projects accounted close to 30% of total new home sales of the said month. The Linq moved 118 units, while The Landmark sold 109 units—both put 120 units on market.
What’s up ahead
With the rollout and discussions about the Covid-19 vaccine—and Singapore’s reopening moving to Phase 3, the economy recovery looks a lot clearer now. As a result, it is expected that the job market, as well as the rental market, may see an improvement over the next few months.
Looking for the latest projects? Check out MOGUL.sg’s New Launch page.
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