August new home sales surge to 11-month high on pent-up demand

August new home sales surge to 11-month high on pent-up demand

August new home sales surge to 11-month high on pent-up demand

PENT-up demand continues to drive new home sales with 1,227 units sold in Singapore in August, an 11-month high with confident buyers pushing prices upwards amid worsening economic conditions and rising unemployment.

The high number of transactions surprised some because it was also the Hungry Ghost month, but it got an extra lift from Forett At Bukit Timah, a freehold development that was launched on Aug 8 - the first private residential project launch since the "circuit breaker" ended on June 1. A total of 212 units have been sold as of Aug 31.

Source: @businesstimessg

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