Singapore New Private Home Sales declined by 68.4% in Oct

Singapore private home sales’ transactions amounted to 312 units in October 2022, dropped by 68.4% Month on Month. On a year-on-year basis, sales declined by 65.8%. This is in stark contrast to the HDB resale prices that have risen for 10 quarters.

Singapore New Private Home Sales declined by 68.4% in Oct : Details

This is the lowest monthly figure since April 2020, when 277 units were sold.

Of the total units of 312 sold,

  • 171 were from the Core Central Region (CCR) which is 21% drop Month on Month
  • 81 were from the Rest of Centre Rion (RCR) which is 91% drop Month on Month
  • 102 were from the Outside Central Region (OCR) which is 89% drop Month on Month

These figures do not include executive condominiums (ECs).

Singapore New Private Home Sales Declined By 68.4% In Oct
Singapore New Private Home Sales declined by 68.4% in Oct

The lack of major condo project launches and limited unsold stock in the market weigh on developers’ sales in October. There were only two new projects were launched, the 25-unit Enchante on Evelyn Road and landed homes at Pollen Collection on Nim Road.

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