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

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

Commenting on the numbers for the month of August, Mr Lee included: “Possible factors for the strong set of figures could be down to genuine acquiring need developed by the lowered rate of interest surrounding, depletion of alternative reliable investment asset, and the phobia of missing out.”

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

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

Forett at Bukit Timah showflat

Despite the presence of economic headwinds and also the Hungry Ghost Festival, real estate investors in Singapore sold 1,256 private homes in August, 16 per cent greater than July’s take-up.

In comparing, 82 percent lesser units were introduced for sale in July as Singapore gradually developed from the “circuit breaker”. When 1,015 units were introduced, there were additionally roughly 56 per cent more units issued in August compared to the identical month a year ago.

Christine Sun, head of research at OrangeTee & Tie, mentioned: “The real estate market threw the craze with better new home sales inked in August, (as) market function in most cases has a habit to slow throughout the 7th lunar month. New apartment sales ascended ‘more and also quicker’ than expected after the “circuit-breaker” days, which overthrew sales in April and May (when there were) showflat terminations.” The sales for brand-new houses last month reached an 11-month high additionally a fourth following monthly rise amid the Covid-19 pandemic together with worldwide economic slowdown, she went ahead to bring up.

The figures – which were generated by the Urban Redevelopment Authority (URA) on Tuesday accorded to its study of qualified real estate real estate investors – set aside executive condo (EC) units, which are a public-private real estate crossbreed.

Comprising of ECs, developers sold 1,307 units in August, up 14 per cent from 1,142 units in July as well as 12 percent over the 1,168 units sold off in August in 2019.

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