Singapore new private home sales more than doubled to 1,356 units in May

NEW private home sales more than doubled in May on the back of major launches. Developers in Singapore sold 1,356 new homes last month, up 105.5 per cent from April’s 660 units.

Sales last month also hit a 6-month high as monthly figures have been hovering around 600 units since cooling measures were introduced in December last year.

According to property analysts, the rebound was not unexpected. OrangeTee & Tie senior vice-president of research and analytics Christine Sun noted market sentiment typically recovers around 2 to 6 months after each round of cooling measures.