New home sales dip 6.5% MoM in October

October’s sales tally is the lowest in 2023.

New private home sales dipped by 6.5% MoM to 203 units in October, data from the Urban Redevelopment Authority (URA) showed.

Year-on-year, sales dropped 35.4%. 

Including executive condominiums (ECs), new home sales fell by 33.1% MoM to 224 units.

OrangeTee attributed the sales drop to the lack of launches “since the lunar seventh month as developers either brought forward or held back their sales launches.”

October’s sales were largely concentrated in the city fringe and the suburbs, with the Rest of Central Region accounting for 40.4% or 82 units sold during the month.

The Outside Central Region (OCR) and the Core Central Region accounted for 37.4% (76 units) and 22.2% (45 units) of sales in October, respectively.