New Private Home Sales Rebounded In November Amid Supply Glut : URA Data

New Private Home Sales Rebounded In November Amid Supply Glut : URA Data Part 1
New Private Home Sales Rebounded In November Amid Supply Glut : URA Data Part 2

Source: New Private Home Sales Rebounded In November Amid Supply Glut : URA Data

According to the Urban Redevelopment Authority of Singapore (URA), sales of new private homes in November rebounded strongly despite the year-end school holiday season and amid a property glut. There were 1,168 units (including Executive Condominiums) sold in November, a 21.9% increase from 958 units in October. Despite the oversupply in the private property market, property consultants expected the prices to hold up well and rise by 2 to 3.5% in 2019. With the US and China reaching phase-one trade deal, it is expected that trade tensions will cool off and market confidence restored. As such, prices are expected to move up by the same modest pace in 2020. Being one of the best selling project, Avenue South Residence will continue to see healthy take up rate. Over 40% of Avenue South Residence has been sold as at Nov 2019.

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