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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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- Boustead Singapore posts 11% rise in 2H20 earnings to $18.5 mil, achieving "commendable" results under "tough business environment", says CEO Wong
- Should “Sandwiched Singaporeans” Rent First, Or Buy The Cheapest Condo They Can Afford?
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