Sales of private homes surge to near-record in S’pore

The China Post

Sales of private homes in Singapore hit a near-record last month — but that might have been as good as it is going to get for a while, given the economic storm clouds over Europe and the plunging share markets.

Some 2,207 units were moved in April — up from 1,761 in March and 1,202 in February — to make it the second-highest monthly sale achieved since such data started being released by the Urban Redevelopment Authority (URA) in mid-2007.

The highest level was clocked last July, when 2,772 units were sold.

April’s bumper figures showed the “resilience”of residential demand despite recent measures introduced by the Government, said CBRE Research executive director Li Hiaw Ho.

Still, government measures and constant monitoring will help to ensure a sustainable demand, he said.

Developers launched 2,084 private homes — landed and non-landed — last month, up from 1,790 units in March, according to URA data.

New home sales for the first four months this year are at 6,587 units, about 45 percent of last year’s sales.

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