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November's figures were boosted by strong demand at new launches - The Linq @ Beauty World and The Landmark as home buyers snapped up 228 units at these two new condos launches last month, pushing new private home sales in November to 749, up 16.7 per cent from October's 642.
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.
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 Landmark is the most attractively priced CCR condo in the market from $2,1xx psf on the elevated hillside of Pearl's Hill near Clark Quay, Chinatown, Singapore River, Tanjong Pagar, Tiong Bahru and SGH
Forett at Bukit Timah is a freehold new condo only minutes walk to Beauty World MRT and future integrated transport hub in the heart of Bukit Timah near top schools like Methodist Girls' School and Pei Hwa Presbyterian.
Huttons Asia's real estate professional Kiwi Lim said private condo prices have remained very resilient throughout this Covid pandemic and some buyers may also have turned to the HDB resale market for flats that better fit their budget and housing needs. A family-size private condo in the suburbs could cost $1.5 million, but for $1 million or so, the buyer can get a relatively similar-sized HDB resale unit on a high floor and in a prime spot near the city.
Covid-19 mass vaccination has begun in the UK and Singapore should not be too far behind. The economy appears on track to shrink 6 per cent in 2020, although unemployment could rise further by year-end, according to private-sector economists polled by the Monetary Authority of Singapore in the latest quarterly survey. But GDP is expected to recover by 2021 with a 5.5 per cent growth, say the economists. Kiwi Lim believes that news of Covid vaccines being tested and possibly even be ready by Feb next year as some analysts predicted has also lifted property market sentiments in the HDB sector.
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.
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.
Article from The Business Times on 11 Dec 2020
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