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New home sales up 114% in Feb, amid virus outbreak

Analysts cite reasons such as low interest rates and competitively priced projects.

Singapore’s new home sales last month surged more than 114% from a year ago, defying the coronavirus outbreak and a looming global recession.

Posting the 2nd-strongest February sales performance in 8 years, developers moved 975 private homes – up 57.3% from the 620 units they sold the month before, driven by competitively priced new projects. The latest figure is also 114% higher than the 455 units developers sold in February last year.

– 17 March 2020

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