SINGAPORE: New private home sales in Singapore more than doubled in January from a month earlier after the resumption of property launches.
Excluding executive condominiums (ECs), developers sold 281 units last month, data released by the Urban Redevelopment Authority (URA) on Thursday (Feb 15) showed.
This was 108.1 per cent more than the 135 units sold in December, when sales sank to a near-15-year low.
On a year-on-year basis, however, new private home sales fell 28.7 per cent from the 394 units sold in January 2023.
Property analysts said that the sales volume was in fact the lowest seen in January in 15 years.
“Despite the rebound in sales volume, this is the lowest January sales since 2009, reflecting the tentative sentiments among buyers,” said Huttons Asia’s senior director for research Lee Sze Teck.
Just 108 units were sold in January 2009 amid the global financial crisis.
Of the units sold last month, 25 were in the Core Central Region (CCR), 112 were in the Rest of Central Region (RCR) and 144 were in the Outside Central Region (OCR).
A total of 417 units were launched for sale last month excluding ECs, with five in the CCR, 172 in the RCR and 240 in the OCR. Source: CNA
