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

Discussing the numbers for the month of August, Mr Lee included: “Likely factors for the healthy set of volumes could be down to legit getting need generated by the lowered rate of interest ambiance, lack of another reliable investment asset, and the fright of missing out.”

19 Nassim showflat

” Sales in the RCR were propped up by the launch of Forett@Bukit Timah together with Noma,” spotted Lee Sze Teck, director (study) at Huttons Asia.

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

There were in addition much more units introduced by real estate investors in August as 1,582 units were opened up, of which 109 remained in the Core Central Region (CCR), 821 in Rest of the Central Region (RCR), and also 652 were Outside the Central Region (OCR).

Taking in ECs, developers moved 1,307 units in August, up 14 percent from 1,142 units in July as well as 12 per cent more than the 1,168 units sold off in August last year.

Christine Sun, head of research study at OrangeTee & Tie, shared: “The real estate market bucked the pattern with greater new apartment sales recorded in August, (as) market function typically tends to slow down during the course of the seventh lunar month. New home sales improved ‘greatly as well as quicker’ than presumed after the “circuit-breaker” period, which upended sales in April and also May (when there were) showflat stoppages.” The sales for brand-new houses last month secured an 11-month high and even a fourth consecutive regular monthly boost in the middle of the Covid-19 pandemic together with international financial downturn, she went ahead to bring up.

In contrast, 82 per cent lesser units were released to sell in July as Singapore gradually came out from the “circuit breaker”. When 1,015 units were released, there were additionally approximately 56 per cent much more units introduced in August contrasted to the matching month a year ago.

In spite of economic headwinds and also the Hungry Ghost Festival, developers in Singapore moved 1,256 private homes in August, 16 per cent over July’s take-up.

The numbers – which were generated by the Urban Redevelopment Authority (URA) on Tuesday based upon its review of certified housing real estate investors – rule out executive condominium (EC) units, which are a public-private real estate hybrid.