by OrangeTee & Tie Pte Ltd.

New home sales set to rise after falling in Oct on fewer launches, options curb

SRX Private Residential Data

SRX Private Residential

SG, 16 Nov 2020

Private home sales halved in October over the October month amid a paucity of new launches and an official clampdown on the re-issuance of options to purchase (OTPs) by developers.

However, property consultants are predicting a recovery in primary-market private home sales in November and December with upcoming launches

Christine Sun, head of research and consultancy at OrangeTee & Tie, said: "Given that fewer new projects could be launched next year, especially mega-projects, we estimate that around 8,500 to 9,500 new homes could be sold in 2021."

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