Total sales from January - November this year total 8,770 units, according to consultants who looked at caveats filed. With the momentum continuing this month, full year 2020 new sales volume is expected to come between 9,000 and 10,000 units possibly matching pre-Covid sales figure last year.
According to Christine Sun, OrangeTee & Tie head of research & consultancy, November's good showing was due to "vaccine optimism" and hopes of economic recovery. It was a very good month for November, said Lee Sze Teck, Huttons Asia director (research).
Ismail Gafoor, PropNex chief executive, offers a further reason for November's robust performance. "We have observed that there is a strong correlation between monthly new private home sales and whether there are new project launches during the month," he said.
The number of Housing Board resale flats sold for $1 million or more has hit a new high, following 13 transactions done last month, according to data from real estate portal SRX released yesterday.
The 72 million-dollar flats sold from January to last month compare with 64 such units for the whole of last year. SRX's flash estimates for last month also reveal that HDB resale prices rose for the fifth consecutive month, though the volume of transactions dipped.
In the overall HDB resale market, prices rose 1 per cent last month from October.