Singapore Property News: Big demands drove high sales in October

November 22, 2016 Singapore

Big demand for Singapore properties has propelled high sales of new homes in October 2016.

Singapore property developers City Developments and MCC Land are said to have contributed 55% of sales that made October 2016 the highest monthly new home sales since July 2015’s count of 1,655 units purchased.

in article imageResidential Estate in Singapore

Comparing the sales from October 2015, sales of Singapore properties this year are 128% higher.

Included in the staggering number of units sold was City Developments’ Forest Woods project with 364 units acquired, and MCC Land’s The Alps Residences project in Tampines that had residents buy 334 units.

When it comes to a Singapore property, location is a factor

Singapore properties’ locations were viewed a factor as to why buyers consider a Singapore property an overseas property investment. Most of the buyers have chosen an international property investment in the suburbs with 1,043 units sold, 151 units in the outskirts of the city, and 58 homes in the central region.

A growth in the number of new executive condominiums (ECs) was also noticed. It went from 260 in September to 288 units in October. Factoring in sales of the ECs, a total of 1,540 new homes were sold in October.

There was also an increase in the numbers of units Singapore property developers have launched, with 1,467 this October. This is 479 units more than the previous month.

More foreign property investment news are shared in the Yazhou Property website and Facebook Page  to keep you posted on overseas property buying and listings.