by OrangeTee & Tie Pte Ltd.

OrangeTee: Singaporean Home Purchases Hit New High In Q3, More Buyers Snapping Bigger Homes

URA Quarterly Data

URA Quarterly Data

SG, 27 Oct 2020

Home purchases soared to a new high in the 3rd quarter of 2020, making up 80.7% of total non-landed home buyers with 4,754 sales. This is the highest proportion since the 1st quarter of 2009 at 82.5%.

“In Q3 2020, a total of 598 landed homes changed hands, more than doubling the previous quarter’s 212. This is also the strongest quarter since 775 landed homes were sold in Q2 2018.” said Christine Sun, Head of Research and Consultancy at OrangeTee and Tie. She attributed the increase to people being more acutely aware of the need to acquire larger unit “to set up a dedicated workspace or small office at home”. “Some astute buyers may be seizing the opportunity to buy a bigger home at the current ‘lower price point’ since prices are likely to rise after the pandemic or when a vaccine is found,” she added.

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