Possible revival of en bloc market in 2021 as developers look to replenish land banks: Analysts Toggle share menu
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General view of private and HDB properties in Singapore. (File photo: TODAY)
03 Feb 2021 12:30PM) Share this content
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SINGAPORE: The muted collective sales market could see a revival in the second half of next year, as developers turn to the private residential scene to feed a growing appetite for land, according to property analysts.
This comes as the property market has remained resilient in the face of the COVID-19 pandemic and consequent economic uncertainty, said analysts.
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Just two en bloc deals totalling S$77.2 million have been inked so far this year, according to Mr Wong Xian Yang, an associate director of research at property firm Cushman & Wakefield.
The New Paper
Private home sales up 19 per cent in November
An artist s impression of residential project Riviere, which is at the former Zouk site. It was launched in May last year. PHOTO: FRASERS PROPERTY
GRACE LEONG, BUSINESS CORRESPONDENT
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The private residential market resumed its upward march last month, with sales up nearly 19 per cent month on month following a 225 per cent surge in the number of new homes launched.
The uptick in sales to 767 units, from 645 in October, followed a temporary pullback in October s sales after the Urban Redevelopment Authority (URA) clamped down on the re-issue of options to purchase (OTPs).