Singapore real estate picks up in November 2018


As per the latest reports, the real estate market in Singapore may be exhibiting signs of a slight pick-up last month. As per reports, real estate developers in Singapore successfully sold private homes to the tune of 1, 198 units in November 2018. This is a major increases if you take into account the 487 units developers sold in October 2018. While on a month-on-month basis, sales in November 2018 are 2.5 times those in October, they are also around 1.5 times more than 788 units which were sold in November 2017 as per reports.

Several studies and reports have corroborated these figures that were announced for licensed housing and real estate developers by the URA (Urban Redevelopment Authority) in Singapore. However, these volumes do not include sales figures for ECs or executive condominiums which come under the public-private business model. With ECs being included, 1, 202 units were sold in November 2018 which is a major increase from 510 units sold in October 2018 and also more than 937 units sold in November 2017.

Projects like Parc Esta in Sims Avenue were hot sellers in Singapore last month and this project had 348 units being sold for an average price of S$1, 699 per sq. ft. while the Whistler Grand had 219 units selling for S$1, 352 per sq. ft. Kent Ridge Hill Residences had 126 units being sold for S$1, 715 per sq. ft. on the South Buona Vista Road.