New home sales soar 130.3% MoM in January

A total of 391 units were sold during the month.

Sales of new homes more than doubled in January with 391 units sold during the month, data from the  Urban Redevelopment Authority (URA) showed.

The figure excludes executive condominiums (ECs) sold in January.

Year-on-year, however, new home sales excluding EC dipped by 42.8%.

Including ECs, the number of new home sales dropped by 13.8% MoM and 25.3% YoY to 550 units.

In January, there was only a single project launch which was the 268-unit Sceneca Residence at Tanah Merah Kechil Link. It was amongst the best-selling projects during the month alongside Tenet, Leedon Green, Klimt Cairnhill, One Holland Village Residences, Riviere, Haus on Handy and Perfect Ten.

Looking at markets, Outside Central Region (OCR) was the best performer, accounting for 185 units or 47.3% of total new sales excluding ECs. Behind OCR is the Core Central Region (CCR) with 158 units sold (40.4%), followed by the Rest of Central Region (RCR) with 48 units (12.3%)