The number of new homes sold in the Core Central Region in October tripled to 182 units from the month before, the highest since March 2016.The improved performance was mainly driven by three new launches in the area - Neu at Novena, Midtown Bay Residences and Royalgreen, analysts noted.
"Sales volumes tend to be lower when more luxury projects are being launched in a particular month, owing to the higher price tags and lower affordability," the analyst said.In October, there were five non-landed new home sales worth above S$5 million, three of which were transacted at S$10 million and above. The three homes were all large-sized units at luxury condo Boulevard 88.
contributed to "significant positive sentiments for developer sales," said property analyst Ong Kah Seng. "Despite the global trade and geopolitical uncertainties, we believe demand for Singapore private homes is still relatively stable given the tight labour market, favourable interest rate environment, and relatively healthy household balance sheet," said Ms Tricia Song, head of research for Singapore, Colliers International.
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: The Straits Times - 🏆 8. / 63 Read more »