SINGAPORE: Sales of new private homes more than doubled in June after showflats reopened following an almost two-month long COVID-19 “circuit breaker” period, in what analysts said indicate firm underlying demand for affordable properties.
"The easing of circuit breaker measures and reopening of showflats from Jun 19 was a major contributor to new home sales surging," said Mr Ong Teck Hui, senior director of research and Consultancy at JLL. Sales were largely driven by mass market homes in the Outside Central Region , where developers sold 489 units. This was followed by 430 homes in the Rest of Central Region and 79 units in the Core Central Region .
“The modest overall price decrease as well as the encouraging demand volume seen in June, all point to an underlying resilience in the private residential market that could motivate developers to launch new projects in the remaining half of 2020,” he said.