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Private home sales rose 15.4% in Oct

Private home sales rose 15.4% in Oct.

Despite some developers holding back their launches, private home sales still rose 15.4 percent in October on a monthly basis thanks to robust demand for previously unveiled units, reported the Singapore Business Review, citing data from OrangeTee.

Overall, 758 previously launched residential properties were sold during the month. In particular, luxury condominium Sophia Hills was the best seller, with 62 units bought at a median price of $2,029 psf.

The real estate consultancy revealed that the upbeat market sentiment is propelling the number of transactions to higher levels.

Amidst Singapore’s rebounding market, the appetite for dwellings remains strong and prices are slowly increasing in spite of initial worries that property curbs will negatively impact sales of pricier new launch units.

Among the new residential developments unveiled in October was Carpmael Thirty-Eight and The Navian.

This article was edited by Romesh.