909 private housing units were sold last month, a 9 per cent increase from 834 units in the previous month. However, October figures failed to surpass the 1,216 units in August. In terms of annual growth, sales last month were 39 per cent higher than the 654 units sold during the same time last year, which may have been fuelled by the increase in the number of new homes put on sale in October, which were also 39 per cent from a year ago. Figures show that a total of 661 new units were available in the market last month, three times more than the 210 units launched in September.
The sales rebound in October brought the total number of new homes sold during the first 10 months of this year to 10,918, surpassing the aggregate figures the past three years already. Accordingly, OrangeTee & Tie’s senior vice-president of research and analytics, Christine Sun, expects sales to reach an eight-year high to between 12,200 and 12,600 units this year.
However, this may be contingent upon the fact that demand would continue to hold up well across the three market segments on Singapore. Of the total number of home sales reported from across the country, the share of sales in the suburbs amounted to 38.2 per cent, while sales in central Singapore and in the city fringes accounted for 30.9 per cent each.
