by OrangeTee & Tie Pte Ltd.

September home sales up 5.6% from August; 1,329 units sold the highest in over 2 years

SRX Private Residential Data

SRX Private Residential

SG, 16 Oct 2020

Developers sold 1,329 new private homes in September, 5.6% more than the 1,258 units in August with affordable homes making up the bulk of sales.

"The robust volumes has led to declining stock," said Christine Sun, Head of research & consultancy at OrangeTee & Tie. "Many mega projects (more than 500 units) that were launched before the pandemic from January 2018 to December 2019 sold more than 50 per cent of their entire project to-date," she said.

"Of the 21 mega projects, more than 15,000 private homes were sold collectively from January 2018 to September 2020. The cumulative unsold units from these 21 projects seemed to be fast diminishing, dipping from 9,460 units in December 2019 to 5,460 units in September 2020. Given the steady pace of sales, most mega-projects could be fully sold by next year," added Ms Sun.

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