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Sales of new private homes, resale properties rise last year despite record prices

SINGAPORE: Sales of new private properties and resale properties in Singapore rose last year despite prices hitting new information, information from the Urban Redevelopment Authority confirmed on Friday (Jan 28).

For the entire of 2021, builders bought 13,027 private residential models, in contrast with the 9,982 models within the earlier year.

In the secondary market, 19,962 resale properties had been bought, in contrast with the ten,729 such transactions in 2020.

Ms Christine Sun, senior vp of analysis and analytics at OrangeTee & Tie famous that 2021’s resale transactions had been the best for the reason that 20,980 models bought in 2007.

“The fast-growing prices did not hamper demand, and sales were brisk across many project launches and resale developments last year,” she added. 

Mr Mohan Sandrasegeran, analysis and content material analyst at Ohmyhome, mentioned {that a} mixture of components contributed to a well-performing marketplace for the new private dwelling gross sales section.

“Pent-up demand, a recovering economy, a low interest rate environment and vaccine optimism … propelled demand and prices in 2021,” he mentioned.

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