New home sales in Singapore for August surprise with 16% rise m-o-m

Adding in ECs, real estate investors sold 1,307 units in August, up 14 percent from 1,142 units in July also 12 per cent over the 1,168 units moved in August last year.

Although economic headwinds along with the Hungry Ghost Festival, property developers in Singapore sold off 1,256 private homes in August, 16 percent over July’s take-up.

There were in addition much more units released by real estate investors in August as 1,582 units were issued, of which 109 remained in the Core Central Region (CCR), 821 in Remaining Central Region (RCR), furthermore 652 were Outside the Central Region (OCR).

Klimt Cairnhill showflat

The totals – which were published by the Urban Redevelopment Authority (URA) on Tuesday built on its poll of licensed real estate property developers – leave out executive condominium (EC) units, which are a public-private housing hybrid.

August’s take-up in the RCR (removing ECs) stood at 622 units, vs. 128 units in CCR together with 506 units in OCR.

Discussing the figures for the month of August, Mr Lee added: “Potential factors for the solid set of figures could be down to genuine buying requirement produced by the reduced rate of interest surrounding, loss of alternative sturdy financial commitment asset, and the concern of missing out.”

” Sales in the RCR were increased by the launch of Forett@Bukit Timah plus Noma,” discovered Lee Sze Teck, director (research study) at Huttons Asia.

In observation, 82 per cent lesser units were introduced to sell in July as Singapore considerably arised from the “circuit breaker”. There were also roughly 56 percent increased units launched in August compared to the corresponding month a year ago when 1,015 units were released.

Christine Sun, head of research at OrangeTee & Tie, mentioned: “The residential property market threw the pattern with better new house sales inked in August, (as) market function commonly has a tendency to slow down at the time of the 7th lunar month. New home sales soared ‘more plus quicker’ than supposed after the “circuit-breaker” phase, which overthrew sales in April and also May (when there were) showflat ceases.” The sales for brand-new houses last month arrived at an 11-month high in addition to a fourth consecutive month-to-month boost in the middle of the Covid-19 pandemic as well as international economic slowdown, she went ahead to explain.

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