by OrangeTee & Tie Pte Ltd.

New home sales in Singapore for August surprise with 16% rise m-o-m

SRX Private Residential Data

SRX Private Residential

SG, 15 Sep 2020

Bunking the economic recession and the Hungry Ghost Festival, developers sold 16 per cent higher than July's take-up for a total of 1,256 private homes in August. This is the 4th consecutive month of increase in monthly sales since the circuit breaker in April 2020.

Christine Sun, head of research at OrangeTee & Tie, said: "The property market bucked the trend with higher new home sales inked in August, (as) market activity typically tends to slow during the seventh lunar month. New home sales rose 'higher and quicker' than expected after the "circuit-breaker" period, which upended sales in April and May (when there were) showflat closures."

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