New home sales in September hit 1,329 units, a 5.6% increase from August’s 1,258. Sales also continued to increase for the fifth consecutive month since the circuit breaker measures were implemented. This is also the highest monthly sales since July 2018, when 1,724 units were shifted.
Despite still being in the midst of a recession, new home sales showed little signs of slowing down. In September, developers sold 1,329 new private homes (excluding executive condominiums (ECs)), up 5.6% from 1,258 units in August, according to Urban Redevelopment Authority (URA) data.
This marks the fifth straight month-on-month (m-o-m) increase since the circuit breaker measures were implemented in April. This is also the highest monthly sales since July 2018, when 1,724 units were shifted.