Home resale volumes hit a record 5,483 units in Q2

This represents a 19% QoQ increase.

The resale volumes of private residential units increased by 19% quarter-on-quarter (QoQ) in the second quarter (Q2) to 5,483 units, an all-time high, following the three consecutive quarters’ increase.

This was driven by the secondary resale market sales in the Core Central Region, which sold 1,117 units, an increase of 29.1% QoQ in Q2. 

Resale volume in Outside Central Region and Rest of Central Region also reached record highs with an increase of 20.7% (2933 units sold) and 9.2% (1433 units sold), respectively.

The reason for this growth, according to Savills, is attributed to the few new launches in the primary market in Q2 and the significant price gap between the new and resale units. This is the same reason why new home sales volume fell by 15.1% QoQ to 2966 units.