New private home sales bounce back in September with 51% rise to 932 units: URA data

New condo purchasers are returning to the market after the Hungry Ghost month despite the latest cooling measures.

According to analyst, the sales volume in September is a record of home sales since 2013.

As many as 7 new projects were launched in September, which is evident of the improved market confidence by buyers and developers alike. In fact, developers who priced correctly had more successful take-up rates. Projects like Stirling Residences, Park Colonial and Riverfront Residences are selling well at their price levels. Riverfront Residences Singapore has a TOP date of 2024.

Due to developers having bought their land at high prices and subsequently having to sell higher to remain profitable, there is a support level for the current property prices ceteris paribus.

Source: The Straits Times

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