LATEST DATA RELEASED BY URA ON PRIVATE PROPERTY SEGMENT (1Q 2020): ✨
Private New Home sales performed exceptionally well in 1Q2020, a 16.9% (y-o-y) increment as compared to the same time period in 2019. Despite the sales performance of the private new homes in the first quarter, we can expect a contraction in the second quarter. This follows after the extension of the circuit breaker measures to 1 June and the closure of all show flats.
With that being said, we are optimistic that projects that are rightly priced will continue to move in the coming months. We are projecting a sales volume in the range of 7,000 to 7,500 units for 2020. A 24% to 29% drop in private new home sales volume as opposed to the 9,912 units sold in 2019.
As for Private Resale segment, it is encouraging to observe a 11.9% rise in the volume of transactions on year-on-year basis.
Here's the pictorial infographics for your reference!
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