by OrangeTee & Tie Pte Ltd.

February's private home sales up over 57% month-on-month: URA

Monthly Developers' Sales

Feb 2020 Data

Singapore, 16 Mar 2020

The sale of private homes have increased 57% month-on-month from January 2020 and over 50% year-on-year from February 2019.

Christine Sun, head of research at OrangeTee & Tie, said: "Despite the current pandemic and uncertain economic outlook, new home sales rose a third consecutive month. This is also one of the strongest February showing in recent years."

"Moving forward, the increasing volatility of the financial markets may continue to propel investors to the real estate sector as properties are widely regarded as safe-haven assets that offer more stable returns than other investment types. The softening of the Sing dollar in recent months may attract foreigners to invest in properties here."

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