Over 2,420 new private homes sold in Oct on back of four new launches, low interest rates
In Singapore, 2,424 new private homes were sold in October — the highest monthly sales for the year. That's also about 850% higher than the previous month. Analysts said competitively priced new launches and easing interest rates were among the drivers for the buying frenzy. Around 1,200 homes, or about over half of the units sold, were within the city fringe, while units in prime areas made up about 30% of sales. Analysts said sales for the rest of the year may not match October's spike, but they still expect overall new private home sales to hit at least 9,000 units this year. Claudia Lim reports.
In Singapore, 2,424 new private homes were sold in October — the highest monthly sales for the year. That's also about 850% higher than the previous month. Analysts said competitively priced new launches and easing interest rates were among the drivers for the buying frenzy. Around 1,200 homes, or about over half of the units sold, were within the city fringe, while units in prime areas made up about 30% of sales. Analysts said sales for the rest of the year may not match October's spike, but they still expect overall new private home sales to hit at least 9,000 units this year. Claudia Lim reports.
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