Developer sales up 18.3% to 381 units in January

This was despite the lack of new launches in the said month.

Developers have managed to sell a total of 381 private residential units in the past month compared to 322 units in the same month last year. The number excludes EC sales.

According to PropNex, this marked an 18.3% increase from last year, reflecting the greater confidence and activities by buyers despite the lack of new launches in January.

The 108 units launched in January was the lowest number in the past year. This is mainly due to developers timing their project launches, preferring to wait after the Chinese New Year (CNY) celebrations

Including ECs developers recorded a sale volume of 565 units, down from the 580 units in the past month but higher than the 480 units recorded in the same month last year.