by OrangeTee & Tie Pte Ltd.

Foreign buyers, new launches boost January new home sales to highest for month in 7 years

Monthly Developers' Sales

January 2020

Singapore, 17 Feb 2020

Singapore's property market saw a boost in January sales in seven years. Developer sales were up 41 per cent compared to a year ago. Based on URA Realis data, there was also can increase of 32.3 per cent (m-o-m) in private new homes purchased by foreigners.

The proportion of sales in the luxury segment or CCR rose to its highest level since January 2019 at 21.5 per cent due to more high-end projects launched in January, including the three new launches, which collectively sold 74 units last month, Ms Christine Sun, head of research and consultancy at OrangeTee & Tie, said.

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