Singapore, 18 Jan 2023 It will take two years before China’s homebuying sentiment returns to normal.
According to government data, home developers' sales in December 2022 is the “slowest month.” Only 170 units were sold, which is 34.6% down month-on-month and 73.7% lower year-on-year.
OrangeTee attributed the drop of private homes sales due to the holidays and developers became cautious about launches.
“Only one new launch, Tenet at Tampines St 62, occurred last month and it garnered strong buying interest, with 73% of the entire project being sold at a median price of S$1,381 psf,” OrangeTee said.