Despite the ongoing Covid-19 pandemic which hit Singapore’s economy quite hard, new home sales in the city-state have rebounded in the third quarter of this year, according to data released by Singapore’s Urban Redevelopment Authority, reports Investvine (18 September 2020). Data for August shows that new home sales rose “higher and quicker†than expected and surged to an 11-month high. New homes sales hit their highest August level of the past three years by 14.4 per cent month-on-month and rose 11.8 per cent on an annual basis. According to proptech company Juwai IQI, the uptick in private home sales could be due to Chinese buyer interest. “The partial data we already have shows that this third quarter will be the strongest at least since the third quarter of 2019. That is in terms of the number of Chinese buyer inquiries made on Singaporean residential real estate,†Juwai IQI executive chairman Georg Chmiel said.
