The amount of new houses sold jumped 41.4% YoY to 618 from 437 in January 2019, according to the Urban Redevelopment Authority’s developers’ revenue poll.
Including executive condos (EC), developers sold 638 units a month, enrolling a 15.8percent MoM increase.
January’s earnings take-up was directed by jobs in the remainder of Central Region (RCR), which accounted for 41.9% of their total sales (excluding EC), followed closely by Outside Central Area (OCR) in 36.6%. The percentage of earnings in the Core Central Region (CCR) inhabited 21.5 percent, which can be reportedly at its greatest level since January 2019 (29.8% ).
Based on TEE International’s head of consultancy & research Christine Sun, the greater luxury sales percentage could be credited to more luxury jobs found in January. A number of those he mentioned would be the 376-unit The Avenir, 638-unit Leedon Green and 69-unit Van Holland, which jointly sold 74 units a month.
“Last month, several nations hurried to contain the spread of their COVID-19 or even CoronaVirus Disease. There appears to be no significant effect on the home market nowadays as it isn’t among those industries directly affected from the coronavirus, including transportation, retail, tourism and MICE (meetings, incentives, conventions and exhibitions),” Sun said.
She assured that the effect would just be temporary and might not lead to a long-term adverse effect on the home market as states are becoming more willing given their encounters from SARS.