SINGAPORE: Sales of new private homes jumped 36.6 per cent in January compared to the same month a year ago, according to data released by the Urban Redevelopment Authority (URA) on Wednesday (Feb 14).
Excluding executive condominiums (ECs), developers sold 522 units last month, compared with 382 units in January 2017. Including ECs, 622 private homes were sold, up from 566 units a year ago.
A total of 247 new homes were launched by developers last month, with no new EC units launched.
Executive director of ZACD Group Nicholas Mak said the figures were quite “healthy” in an otherwise quiet month.
Real estate developers tend to avoid the “lull period” during the Chinese New Year season, saving their new launches for after Chinese New Year, Mr Mak said.
Real estate specialist JLL was also optimistic, calling the positive numbers a response to the “current upbeat market”.
“Compared with January 2017, January this year shows a keener demand that is reflective of the current upbeat market.
“In spite of the low-key launches and the pre-festive period, buyers are still actively sussing out previously launched projects and snapping up units, aware that time may not be on their side,” said the national director of research and consultancy at JLL, Ong Teck Hui.