by OrangeTee & Tie Pte Ltd.

New private home sales take a hit in May on the back of heightened measures

Monthly Developers' Sales

Monthly Developers' Sales

Singapore, 12 Jun 2021

Tighter restrictions to curb a resurgence in Covid-19 cases dampened new private home sales in May, although the impact wasn’t as severe as during the circuit breaker in the corresponding month last year. 

According to estimates from analysts (based on caveats lodged), developers sold 863 private homes in May (excluding ECs) nearly 32 per cent less than the 1,262 units moved in Apr. However, comparing y-o-y, the tally for May surged over 77 per cent from the 487 homes sold in the corresponding month in 2020 when the circuit breaker forced developers to shutter their sales galleries. URA will release the official monthly sales data for May on June 15. 

OrangeTee & Tie senior VP (research & analytics) Christine Sun highlighted that the m-o-m fall in sales volume in May wasn’t as drastic as during the circuit breaker last year. 

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