New private home sales hold steady in January in spite of cooling measures: analysts

Singapore

DEMAND for new homes held steady in January in spite of new cooling measures introduced last year. Based on caveats lodged, analysts estimated that developers sold 639 new private homes last month, a marginal 1.7 per cent dip from December 2021's 650 units.

Compared to the previous year, the latest estimates are 60.9 per cent lower than the 1,633 units sold in January 2021. That said, OrangeTee & Tie senior vice-president of research and analytics Christine Sun noted that the January 2021's high volume was "an anomaly". Figures were boosted by the launch of the 1,862-unit mega project Normanton Park, which moved 645 units that month.