by OrangeTee & Tie Pte Ltd.

August new home sales surge to 11-month high on pent-up demand

Monthly Developers' Sales

August 2020

Singapore, 10 Sep 2020

Despite worsening economic conditions and rising unemployment, new home sales in Singapore reached an 11-month high with 1,227 units sold in August. 

Christine Sun, head of research and consultancy at OrangeTee & Tie, said that properties in Singapore generally have a good track record of yielding attractive capital appreciation over the past 30 years, especially for new projects that are well-located, possess good product attributes and built by renown developers.

She added that the low-interest rates have also provided some support for the property market as the borrowing cost or mortgages are now more affordable for new borrowers.

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