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Sales of new private homes hit 3-year high

Last month's figure up 84%; analysts expect lower volume after loan curbs

Published on Oct 16, 2012 6:00 AM
 
New private home sales jumped by about 84 per cent last month compared with August, to 2,621 units sold, the highest monthly figure since July 2009. -- ST PHOTO: KUA CHEE SIONG

New private home sales jumped by about 84 per cent last month compared with August, to 2,621 units sold, the highest monthly figure since July 2009.

The latest spike in sales came as the National Development Ministry revealed that 26,800 HDB flats, 22,400 non-landed private homes and 1,100 landed homes are set to be completed in 2014.

This is a sharp rise in supply compared with the 11,300 HDB flats, 12,500 non-landed private homes and 700 landed homes due for completion this year. The figures were part of a parliamentary written response to Pasir Ris-Punggol GRC MP Gan Thiam Poh on Monday.

The latest sales figures for last month, released by the Urban Redevelopment Authority yesterday, pre-date new cooling measures unveiled earlier this month, which included loan term curbs.

 
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