Developers sell 673 private homes in January, up 3.5% m-o-m

EdgeProp Singapore

February 15, 2022



SINGAPORE (EDGEPROP) - Sales of new private residential units inched upwards by 3.5% m-o-m in January, with developers selling 673 new homes excluding executive condominiums (ECs) compared to 650 units in December 2021.

Including ECs, new home sales rose 0.8% m-o-m from 719 units in December 2021 to 725 units in January.

Compared to a year ago, new home sales excluding ECs were 58.8% lower y-o-y.

Consultants say the marginal increase in new home sales in January reflects the continued tentativeness in the market following the new cooling measures that came into effect last December. In addition, there was also a lull period leading up to the Chinese New Year period.

Only two new project launches occurred in January, the 107-unit strata-landed Belgravia Ace and the 16-unit Ikigai. In total, 178 units were launched by developers in January - the lowest since February 2021 when 167 units were launched.

Read more at: https://www.edgeprop.sg/property-new...nuary-35-m-o-m