Residential sales volume up 15.4% in October

Thanks to strong unit demand for existing launches.

Private residential developer sales increased 15.4% MoM in October as positive buying sentiment drove property volumes to greater heights even as some developers held back on launches, according to Orange Tee Real Estate data trend.

A total of 758 sales of existing launches were registered in October with upscale condominium Sophia Hills being this month’s top seller after selling 62 units at a median price of $2,029 per square feet.

Meanwhile, The Navian and Carpmael Thirty-Eight are among the new projects launched this month.

According to Orange Tee, the Singapore property market is slowly recovering as demand remains robust and prices are slowly rising despite initial concerns that cooling measures and loan curbs will reduce market ability to absorb higher launch prices.