PRIVATE HOME SALES SEE REBOUND IN JANUARY

PRIVATE HOME SALES SEE REBOUND IN JANUARY

Feb 15, 2012

Private home sales in Singapore saw a strong rebound in January 2012, as developers launched several projects across a number of popular districts.

According to latest figures by the Urban Redevelopment Authority (URA), January’s home sales soared to 2,077 units, an increase of more than three times month-on-month and 34 percent year-on-year.

“This hike in sales is due to the launch of 2,665 units in the month compared to the 937 launched in December. Developers launched these projects in the more popular suburban regions,” said Tejaswi Chunduri, real estate analyst for PropertyGuru.

Excluding executive condominiums (ECs), the total number of units sold in January reached 1,872.

Chunduri added that more than 90 percent of the units launched “were in the Outside Central Region (OCR), with the highest median price at S$1,644.”

“Watertown is the most popular development with 78 percent of units sold out of 992 units launched in the month at a median price of S$1,169.”

Info courtesy- PropertyGuru.com.sg