Singapore new private home sales reach 13-year high

New private home sales in Singapore reached a 13-year high in February, with developers selling 1,575 units, a significant increase from 153 units in February 2024. This surge was driven by two new condo launches, Parktown Residence and Elta. Parktown Residence sold 1,041 units, while Elta sold about 65% of its units. Both projects attracted buyers due to their suburban locations and lack of new supply in recent years. This marked the best monthly performance for suburban home sales in nearly a decade. The positive sales trend is expected to continue, with more launches planned for 2025. Analysts note that while demand remains strong, buyers may be more selective due to increased options in the market.