by OrangeTee & Tie Pte Ltd.

Sales at 2 property projects buck cautious sentiment from virus outbreak

New Project Launches

March 2020 Data

Singapore, 03 Mar 2020

The month of February ended on a high note for the new sale market as two new developments managed to achieve robust sales. The two projects, Luxus Hills and The M, showed that there is still strong demand for private properties despite the Covid-19 outbreak.

Christine Sun, head of research and consultancy at OrangeTee & Tie, said: "Despite the current crisis, Singapore had continued to keep faith with the fundamentals that have drawn many investors in the past such as having strong governance and being open and transparent, and our efforts in tackling the virus may have preserved investors' confidence.

"This could be one of the reasons investors have continued to buy projects in Singapore especially luxury properties last month.

"Many investors would be turning to safe-haven assets to protect themselves in periods of market uncertainties, therefore, some may have shifted their investments from equities and bonds to alternative assets like properties in Singapore."

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