by OrangeTee & Tie Pte Ltd.

New private home sales hold steady in January in spite of cooling measures: analysts

Monthly Developers' Sales

Despite the introduction of new cooling measures in December last year, demand for new homes remained steady in January. Based on caveat data from URA, there was only a marginal dip in sales last month. 

Compared to the previous year, the latest estimates are 60.9 per cent lower than the 1,633 units sold in January 2021. That said, OrangeTee & Tie senior vice-president of research and analytics Christine Sun noted that the January 2021's high volume was "an anomaly". Figures were boosted by the launch of the 1,862-unit mega project Normanton Park, which moved 645 units that month.

"In contrast, there was only one launch last month, the 107-unit Belgravia Ace," she said.

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