Chart of the Day: Are lacklustre home sales finally showing signs of life?

Sales have increased by 21.7% yoy.

Singapore’s home developers may be up for some good news as primary home sales are finally showing signs of stabilisation.

According to a report by OrangeTee Research, prices have remained resilient as sales from existing launches have increased by about 21.7% in 2016 YTD compared to the corresponding period in 2015.

“This lends strength to the proposition that the primary market may have bottomed and is in recovery,” the report noted.

However, the report added that it is hard to envisage a recovery given that cooling measures remain in place and the economy remains weak.

“Barring an unexpected deterioration in the global economy, the primary market is likely to stabilise around current levels,” the report added.