New Private Home Sales Hit 8-Year High For January Amid Talk Of Impending Property Curbs

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The volume of new private homes sales hit highest for January in eight years due to the launch of Normanton Park and The Reef at King’s Dock.

January sales of 1,609 units saw a 32% increase over December sales. This was the highest January sales since 2013 when 2,028 units were sold.

The top contributor of January sales was from mega-project Normanton Park where 625 units were sold. Parc Central Residences came in second. The EC sold 417 units. The Reef at King’s Dock took third place selling 221 units. Projects that were already launched also moved units especially Ki Residences at Brookvale, Treasure at Tampines, Jadescape, Parc Clematis, The Garden Residences were among the top in sales for January.

Analysts say buyers are committing their purchase because they speculated that prices could go higher as the global economy is expected to pick up. Some suspected that the bullish market sentiments might trigger another round of cooling measures from the government. However, certain experts has pointed out that if the sales figures of Normanton Park and Reef at King’s Dock were excluded, the sales from earlier launched projects reflected a sustainable pace

Source: Straits Times