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Colliers International believes the demand for new homes in Singapore is likely to remain stable in 2020 after figures from the Urban Redevelopment Authority showed a monthly increase in private home sales for November.
The demand for private homes in Singapore is still relatively stable despite global trade and geopolitical uncertainties, Colliers International says.
Figures released by the Urban Redevelopment Authority showed that developers sold 1,147 new private homes (excl. Executive Condos) in November 2019 - a rise of 23.2 per cent from the restated 931 units transacted in the previous month.
On a year-on-year basis, new home sales declined 4.5 per cent from the 1,201 units shifted in November 2018, where there were eight new launches signalled a recovery from the market cooling measures in July 2018.
At a glance:
- Figures released by the Urban Redevelopment Authority showed that developers sold 1,147 new private homes (excl. Executive Condos) in November 2019 - a rise of 23.2 per cent from the restated 931 units transacted in the previous month.
- On a year-on-year basis, new home sales declined 4.5 per cent from the 1,201 units shifted in November 2018.
- Colliers Research predicts that new home sales in 2019 will likely reach 10,000 units, surpassing the 8,795 units (excl. ECs) transacted last year.
Real estate related news stories from Singapore
- M&G Real Estate adds 12 properties to Japan portfolio
- Ascott on track to achieve global target of 160,000 units by 2023: CEO
- UOI to buy 146 Robinson Road from UOB for S$52 million
- PropertyGuru CEO vows comeback after IPO flop
- Singapore stock watch: UOB, ThaiBev, Koufu, Frasers Property, UOI, Yanlord, Oxley
Asian property news round up
- Tencent-backed Beike mulls US$1b IPO
- Frasers Property raises stake in Thailand subsidiary for $1.09m
- Gaw Capital Partners Closes APAC Opportunistic Real Estate Fund at $2.2B
- X2 Hoi An Resort & Residence wins International Property Awards 2019
- Tougher market for office for lease in coming time
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