{"id":115682,"date":"2020-04-17T12:45:16","date_gmt":"2020-04-17T05:45:16","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-residential-sales-rose-20-in-q1-huttons-asia\/"},"modified":"2020-04-17T13:18:35","modified_gmt":"2020-04-17T06:18:35","slug":"singapore-residential-sales-rose-20-in-q1-huttons-asia","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-residential-sales-rose-20-in-q1-huttons-asia\/","title":{"rendered":"Singapore residential sales rose 20% in Q1: Huttons Asia"},"content":{"rendered":"


\nResidential sales in Singapore climbed 20% year-on-year in the first quarter of 2020.
\nProperty is proving to be an enduring asset class for many in times of uncertainty as residential sales in Singapore climbed 20% year-on-year in the first quarter of 2020, revealed a Huttons Asia report.
\nAfter the lull in December 2019, developers sold 620 units in January, up 15.2% month-on-month and 43.2% year-on-year.
\nThe report noted that the monthly sales is a six-year high and may have been \u201ceven higher if not for the extended Lunar New Year break and limited new launches\u201d.
\nA total of 598 units were launched in January, with all three new launches located in the Core Central Region \u2013 namely, The Avenir, Leedon Green and Van Holland.
\nIn February, developers launched 933 units and shifted 976 units, up 57.4% month-on-month and 114.5% year-on-year. The M in Bugis sold over 70% during its launch weekend as buyers willingly braved the sun and spent many hours queueing just to snap a unit.
\nHowever, residential sales volume dropped 32.3% month-on-month and 37.4% year-on-year in March as developers launched 578 units and moved 660 units.
\n\u201cThis is the sixth consecutive month that monthly sales volume has exceeded launch volume,\u201d said the report.
\nOver at the resale market, transaction volume dropped 20% quarter-on-quarter in Q1 2020, while prices declined 1.2%.
\n\u201cAs economic and employment conditions were not dire in Q1 2020, sellers of completed homes in the mass market and landed segment most likely opt to accept lower profits in a bid to offload their property.\u201d
\nThe executive condominium (EC) segment also performed well during the quarter, with Parc Canberra selling more than 60% of its units, while Ola at Anchorvale Crescent sold 170 units or more than 30% on its launch weekend.
\nMeanwhile, Huttons Asia noted that while the percentage of foreigners purchasing properties (new and resale) within the city-state eased by 1% due to travel restrictions at some countries, Singaporeans continued to support the local property market.
\nThus, \u201ca small adjustment in foreigner buying is unlikely to have a significant impact on the market\u201d, it said.
\nIn fact, the decline in purchases by foreigners of properties priced above $2,000 per sq ft (psf) was more than offset by the number of Singaporeans acquiring similarly priced properties.
\nWith the government\u2019s circuit breaker measure in place, Huttons Asia expects the property market in the second quarter of 2020 \u201cto be affected by Covid-19, the extent of which depends on how long the circuit breaker last and the rebound in economic activity\u201d.
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Singapore residential sales rose 20% in Q1: Huttons Asia<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Residential sales in Singapore climbed 20% year-on-year in the first quarter of 2020. Property is...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-115682","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-u5Q","jetpack-related-posts":[{"id":117914,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/up-to-20-new-residential-projects-to-be-launched-in-2h-huttons\/","url_meta":{"origin":115682,"position":0},"title":"Up to 20 new residential projects to be launched in 2H, Huttons","date":"July 22, 2020","format":false,"excerpt":"\r Despite slow sales during the circuit breaker period, there\u2019s been resilence in the market and Huttons Asia expects sales to hover between 8,000 and 8,500 units in 2020, with more project launches on the cards.\u00a0\u00a0 During the circuit breaker, developer sales plunged to one of its lowest levels in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122757,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-up-1-1-in-q3\/","url_meta":{"origin":115682,"position":1},"title":"Private home prices up 1.1% in Q3","date":"October 22, 2021","format":false,"excerpt":"\r Quarter-on-quarter, private home prices\u00a0went up by\u00a01.1% and resale transactions increased to 5,362 units from 5,333 units. Private home prices in Singapore increased 1.1% in the third quarter of 2021, higher than the 0.8% hike registered in the previous quarter, showed Urban Redevelopment Authority (URA) data on Friday (22 October).\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/Buildings-singapore.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":94039,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-down-41-7-in-june\/","url_meta":{"origin":115682,"position":2},"title":"Private home sales down 41.7% in June","date":"July 17, 2018","format":false,"excerpt":"\r Image: Riverfront (Source: Christopher Chitty) Developers sold 654 private homes (excluding executive condominiums) in June, down 41.7 percent from the 1,122 units sold in May and 20.2 percent lower over the same period last year. Colliers International research head for Singapore Tricia Song said it is the lowest monthly\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121489,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-new-private-home-sales-surge-82-2-in-july\/","url_meta":{"origin":115682,"position":3},"title":"Singapore new private home sales surge 82.2% in July","date":"August 17, 2021","format":false,"excerpt":"\r Singapore new private home sales surge 82.2% in JulyAccording to data from the URA, new private home sales in July was the highest this year, with 1,744 units\u00a0sold. Photo: Watergardens at Canberra Despite the tightened safe management measures during the second half of July, developers in Singapore sold 1,589\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/08\/Artists-impression-of-The-Watergardens-at-Canberra-crop.jpg?fit=820%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":105119,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-up-4-4-as-developers-offer-higher-agent-commissions\/","url_meta":{"origin":115682,"position":4},"title":"Private home sales up 4.4% as developers offer higher agent commissions","date":"March 18, 2019","format":false,"excerpt":"\r The prospect of the Cross Island Line may have also boosted sales at projects situated near upcoming stations. Despite the absence of new launches and the Lunar New Year festive lull, developers sold 455 homes in February, up 4.4 percent from January and 18.5 percent higher over the same\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91728,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-jump-53-in-may\/","url_meta":{"origin":115682,"position":5},"title":"New private home sales jump 53% in May","date":"June 19, 2018","format":false,"excerpt":"\r Thousands of buyers turned up at the showflat of Twin Vew during the launch in May. 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