Singapore October Home Sales Rise 60 Percent on New Projects

  • Developers marketed 546 units compared with 341 in September
  • Prices have been dropping as the government maintained curbs

Singapore home sales rose 60 percent in October from a month earlier, as developers marketed more projects.

Developers sold 546 units last month compared with 341 units in September, according to data released Monday by the Urban Redevelopment Authority.

Prices dropped for an eighth consecutive quarter in the three months to the end of September, matching the longest losing streak in 13 years, the URA reported last month, as tighter mortgage curbs cooled demand. Prices declined to a record low in the third quarter of 2013.

Among new projects was UOL Group Ltd.’s Principal Garden, where 113 of the 200 units offered were sold, the data showed. At NS Property (Thomson) Pte’s Thomson Impressions development, 80 of 150 units marketed were sold.

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