The wealthy continue to pick up choice assets amid April home sales plunge in S'pore

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DESPITE a plunge in sales of new homes in April, the very rich had no problem forking out money for their favourite asset amid the 'circuit breaker'. Read more at The Business Times.

The 277 units sold came in 62.4 per cent lower over April 2019's 737 units, data from the Urban Redevelopment Authority showed on Friday.

Including executive condominiums or ECs, which are a private-public hybrid, there were 293 new homes sold in April, down from the 904 in March, or a dive of 67.6 per cent. According to URA Realis data, a number of luxury projects continued to move units after the"circuit-breaker" measures were implemented, including Boulevard 88, Midtown Bay, Van Holland, Kopar at Newton, and Neu at Novena.

Kopar at Newton formed the majority of the new home sales in CCR."The stellar sales for Kopar could be attributed to their good location and attractive pricing where the median price is about S$2,241 psf in April 2020," said Ms Sun. Compared to January 2009 when there was no"circuit breaker", April 2020 sales are extremely good in light of the circumstances, said Lee Sze Teck, Huttons Asia director .

 

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