Singapore new private home sales rebound in October, up 8.3%

NEW private home sales rose in October, reversing the downward trend seen in previous months. Based on caveats lodged, analysts estimated that property developers sold 903 residential units in Singapore last month, up 8.3 per cent from September's 834 units.

On a year-on-year basis, the latest estimates are 38.1 per cent higher than the 654 new private homes sold in October 2020.

Buying momentum was boosted by the near sell-out of Jervois Mansion on its first weekend of sales, said Lee Sze Teck, Huttons Asia senior director (research).