According to the figures released by Urban Redevelopment Authority (URA) based on its surveys of licensed housing developers. Private homes sold by developer in Jan 2018 up by 37% from a year ago.
Analysts generally termed the January sales as "healthy", especially given that no new private housing or EC projects were launched last month among projects that were still licensed.
"The firm economic outlook for Singapore this year should continue to drive positive sentiment and confidence in the property market," said Ms Tricia Song, head of research for Singapore at Colliers International.
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Transaction values also soared 46%, driven mainly by the secondary market. This chart from DBS Equity Research shows that 2M2018, unit sales (primary and secondary sales) jumped by 14% YoY to around 3,200 units. Moreover, transaction values were significantly higher by 46%, driven mainly by the secondary market. DBS analyst Derek Tan noted that Singapore is approaching the traditional peak period for property transactions in the coming months, which around 55%-60% transacted between April to September in any given year. “Given the positive sales momentum, we believe that there is a high chance that transaction values this year will exceed our estimate (+10% YoY),” he said.
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