Sales of Singapore's new private homes surge to 15-month high in October

Sales of new private homes in Singapore increased sharply to a 15-month high in October because of strong demand at two newly launched projects, local media reported on Tuesday.

Property developers sold 1,252 new private homes in October, more than double the 509 sold in September and the highest since July 2015, when 1,655 units were sold.

The increase in October was largely due to sales at two new projects launched at Forest Woods in Serangoon, where 364 units were sold, and The Alps Residences in Tampines, where 334 units were sold.

With executive condominiums being included, developers sold 1,540 units in October, up from 769 in September, said local media.

Private homes are those developed by private developers. About 80 percent of the resident households in Singapore live in public housing units built and sold by the government. The private homes are typically more expensive than public housing units. Endit