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New data from Singapore's Urban Redevelopment Authority has shown a monthly increase of more than 50 per cent in new home sales within the country, which Colliers International attributes to a series of apartment launches.
Singapore apartment buyers have braved social distancing to queue for units at project launches in February, driving up new home sales for the month.
Data released by the Urban Redevelopment Authority on Monday (16 March) showed that 975 new private homes (excluding Executive Condos) were sold in February, up by 57.3 per cent from the 620 units that were shifted in January 2020.
On a year-on-year basis, developers’ sales more than doubled from the 455 units (excl. ECs) transacted in February 2019.
Real Estate Related News Stories from Singapore
- Tiong Seng unit wins S$227.5m construction contract for residential project
- OUE Commercial Reit sets up S$2b debt issuance programme
- Commercial property market on ice as virus wreaks havoc
- Chart of the Day: Local buyers account for 78% of home deals in 2019
- Singapore REITs crashing – time to buy?
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