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.