{"id":117056,"date":"2020-06-11T10:08:23","date_gmt":"2020-06-11T03:08:23","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-home-sales-surged-by-81-3-in-may-despite-circuit-breaker\/"},"modified":"2020-06-11T11:02:53","modified_gmt":"2020-06-11T04:02:53","slug":"new-home-sales-surged-by-81-3-in-may-despite-circuit-breaker","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-home-sales-surged-by-81-3-in-may-despite-circuit-breaker\/","title":{"rendered":"New home sales surged by 81.3% in May despite circuit breaker"},"content":{"rendered":"


\nMay saw some 484 new sale caveats, up 81.3% from April\u2019s 267 new sale caveats.
\nSingapore\u2019s real estate market showed signs of life with 967 caveats in the private residential sector from 7 April to 1 June, said Knight Frank. This is despite the\u00a0circuit breaker measures which restricted physical interactions and the closure of showflats.\u00a0
\nOf the 967 caveats lodged, 577 were new sales, 380 were resale transactions and 10 were sub-sales.
\nRecommended article:\u00a0Quick Guide to Everything You Need to Know About Sub-Sale
\nLeonard Tay, Head of Research at Knight Frank Singapore, noted that the circuit breaker from 7 April to 1 June imposed stringent measures on human movement and work activities, \u201cmaking it challenging for real estate transactions to materialise\u201d.
\nIn fact, overall monthly demand during April and May was down compared to the first quarter of 2020 when 4,162 caveats were registered, or a monthly average of about 1,387 caveats.
\n\u201cIt seemed that when Singapore entered the circuit breaker in April, the worst was to be expected with 324 caveats during the three weeks from 7 April to 30 April. Combined with the 303 caveats in the first week of April, this amounted to a total of 627 transactions during the month,\u201d said Tay.
\nHowever, new home buyers seem to have \u201cadjusted to this new situation and turned to their computers and devices in May to conclude deals\u201d.
\nRecommended article:\u00a0Someone Bought A $2.2M House Without Even Viewing It, Can You Do It Too?
\nAccording to Knight Frank, 643 caveats were recorded in May, up 2.6% from April.
\nTay observed that the \u201cnew home sales volume that dominated private residential transactions in May, notwithstanding the closure of showflats during that period, is somewhat counter-intuitive to conventional sense\u201d.
\nMay also saw some 484 new sale caveats, up 81.3% from April\u2019s 267 new sale caveats.
\n\u201cIt could be that many of these new home buyers who sealed the deal in May had already been to the showflats prior to the circuit breaker, and weeks thereafter of staying at home helped in some measure towards a decision-making purchase. It could be that other buyers were confident enough to make a purchase with only the aid of online visuals and information,\u201d said Tay.
\n\u201cRegardless of the reasons, homebuyers have exhibited a degree of adjustment and adaptation to the prevailing circumstances, in a time of COVID-19.\u201d
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\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…New home sales surged by 81.3% in May despite circuit breaker<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

May saw some 484 new sale caveats, up 81.3% from April\u2019s 267 new sale caveats....<\/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-117056","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-us0","jetpack-related-posts":[{"id":116343,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-residential-transactions-continued-to-push-on-during-circuit-breaker\/","url_meta":{"origin":117056,"position":0},"title":"Private residential transactions continued to push on during circuit breaker","date":"May 14, 2020","format":false,"excerpt":"\r There were 286 caveats lodged from 7 April to 30 April, according to Knight Frank Singapore.\u00a0 Despite the closure of showflats and restrictions of viewing of properties because of the circuit breaker measures, Singapore\u2019s real estate market still showed life. \u201cA quick count of real estate caveats across all\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117846,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-homes-sales-to-hit-up-to-7000-this-year\/","url_meta":{"origin":117056,"position":1},"title":"New private homes sales to hit up to 7,000 this year","date":"July 17, 2020","format":false,"excerpt":"\r Despite the circuit breaker restrictions, sale activities still continued to happen in Q2 2020.\u00a0 While the enforcement of the circuit breaker measures disrupted real estate activities in Q2 2020, Knight Frank believes the progressive easing of the restrictions and resumption of economic activities will contribute to a pickup in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116465,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-drop-58-in-april\/","url_meta":{"origin":117056,"position":2},"title":"New private home sales drop 58% in April","date":"May 18, 2020","format":false,"excerpt":"\r Developers sold 277 new private homes in April, down 58% from the 660 units shifted in March. Photo: Kopar at Newton by CEL.\u00a0 With the implementation of circuit breaker measures from 7 April leading to the discontinuation of house viewings and closure of showflats, developers sold 277 new private\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118202,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sale-of-prime-non-landed-homes-plunge-52-9-in-1h-2020\/","url_meta":{"origin":117056,"position":3},"title":"Sale of prime non-landed homes plunge 52.9% in 1H 2020","date":"August 12, 2020","format":false,"excerpt":"\r However, Knight Frank expects the sale of prime non-landed homes to improve in the second half of 2020. Singapore saw sale of prime non-landed homes drop 52.9% to $659.2 million in the first half of 2020 from the $1.4 billion registered in the second half of 2019, revealed a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115742,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-market-sentiment-to-weaken-amid-restrictive-containment-measures\/","url_meta":{"origin":117056,"position":4},"title":"Residential market sentiment to weaken amid restrictive containment measures","date":"April 20, 2020","format":false,"excerpt":"\r After the residential market showed signs of slowing in the first quarter of 2020, Knight Frank expects market sentiment to weaken amid concerns over job security as well as restrictive containment measures due to Covid-19. Urban Redevelopment Authority (URA) flash estimates showed that the Property Price Index (PPI) of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115658,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-fall-32-4-in-march-amid-covid-19\/","url_meta":{"origin":117056,"position":5},"title":"Private home sales fall 32.4% in March amid Covid-19","date":"April 16, 2020","format":false,"excerpt":"\r Transactions sharply tapered off as the effects of the Covid-19 began to hurt sentiment\u00a0reverberate through the economy. Developers in Singapore sold 660 new private homes in March, down 32.4% from the 976 units moved in February. On an annual basis, developer sales dropped 37.4% from the 1,054 units shifted\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/117056"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=117056"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/117056\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=117056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=117056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=117056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}