New private home sales rise 15% in Nov, driven by demand for city-centre units

Prospective buyers and property agents checking out the list of units at the condominium showflat. Buying demand took a turn last month as buyers picked up 1,228 new private homes from developers. -- ST FILE PHOTO: RAJENDRAN NADARAJAN
Prospective buyers and property agents checking out the list of units at the condominium showflat. Buying demand took a turn last month as buyers picked up 1,228 new private homes from developers. -- ST FILE PHOTO: RAJENDRAN NADARAJAN

Buying demand took a turn last month as buyers picked up 1,228 new private homes from developers.

This was 15 per cent more than October's sales of 1,070 units, which in itself was 14 per cent down from 1,246 units moved in September, according to figures released on Monday by the Urban Redevelopment Authority.

Last month's buying was largely driven by new launches in the city centre, which made up 54 per cent of all units sold.

About 17 per cent of the units sold were in the suburbs, while the remaining 29 per cent were located in the city-fringe areas.

The figures exclude executive condominiums.