Expect volume to pick up in new home sales soon
Data from the Urban Redevelopment Authority (URA) shows private property prices in the first quarter of 2022 rose 0.7 per cent from the previous quarter. from the Urban Redevelopment Authority (URA) shows private property prices in the first quarter of 2022 rose 0.7 per cent from the previous quarter.
Post property cooling measures that kicked in on Dec 16, 2021, home prices appear to be resilient, but the volume of new home sales has plummeted.
Month-on-month, new private home sales rose in March, but the figures for March and the first quarter are down by close to 50 per cent compared to a year ago. For Q1 2022, the number of private homes excluding executive condominiums sold by developers fell by 40 per cent from the previous quarter to 1,825 units.
Perhaps developers and…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
‘Competition for talent’ a poor excuse to keep key executives’ pay under wraps
OCBC should put its properties into a Reit and distribute the trust’s units to shareholders
Why a stronger US dollar is dangerous
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access