New home sales up in January amid global economic uncertainty | / Property news / New home sales up in January amid global economic uncertainty

New home sales up in January amid global economic uncertainty

Fresh property news selection on February 18. 2020, Tuesday.

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New home sales held their own last month amid the volatile global economic climate and the coronavirus outbreak in the latter part of the month.

Developers sold 618 private homes - up 14.9 per cent from the 538 moved in December and 41 per cent ahead of the 437 units sold in January last year.


This made it the best performing January sales in seven years, Urban Redevelopment Authority data showed yesterday. The figures exclude executive condominiums (ECs).

Last month's sales were driven by competitively-priced existing projects and a spurt of buying by foreigners in the prime or core central region, analysts say.

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