Private new home sale market still 'credible' despite October sales falling 50%: analysts

Uploaded By:  Frances Gagua Submitted By:  Staff Reporter Case Study:  No Lack of new home sales, OTP drove lower sales, but market sentiment remains positive. October’s private new home sales dropped to more than half of the units sold in September, weighed by lack of new launches during the month and the economic downturn. Private new home sales shrunk 51.7% MoM to 642 units (excluding executive condominiums, or ECs) in the past month, from 1,329 units sold in September, according to the latest data from the Urban Redevelopment Authority (URA). Compared to October 2019’s 932 units sold, new home sales were 31.1% lower. read more