Unemployment rate rose to 2.4 as private home sales declined in Q1 | Agent.sg
Agent.sg / Property news / Unemployment rate rose to 2.4 as private home sales declined in Q1

Unemployment rate rose to 2.4 as private home sales declined in Q1

Fresh property news selection on July 08. 2020, Wednesday.

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Over-all sales declined to 2,148 from 9,912.


The unemployment rate rose 1 percentage point (ppt) Q1 to 2.4% compared to 2019, as overall sales of private new homes declined from 9,912 to 2,148 over the same period.

In view of the weak economic outlook, a key downside risk on home demand and prices is the unemployment rate in Singapore as job and income security have been a rising concern in a pandemic-hit world. Data showed that unemployment rate correlates closely with home purchase, barring some exceptions.

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