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【World Property Journal】Singapore Enjoys Surge in Demand for Residential Properties in Q3

【World Property Journal】Singapore Enjoys Surge in Demand for Residential Properties in Q3

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According to Singapore-based EDMUND TIE real estate consultants, Singapore's non-landed private residential sales continued to grow for the second consecutive quarter, with new sales in Q3 2019 reaching 3,198 units, up 49.2 per cent from Q2 2019.

Accounting for the resilience, EDMUND TIE's chief executive officer, Ms. Ong Choon Fah, said: "Home ownership is ranked highly on many Singaporeans' list of priorities, and private housing remains a longstanding aspirational goal, both for first-timers and HDB upgraders."

"The injection of ample supply last quarter, amounting to some 6,900 units island wide, provided home seekers with abundant options and in tandem with competitive pricing, outstanding design and good locational attributes, catalyzed a substantial volume of conversion. Demand was project specific and uneven across the market. The surge in demand was mainly attributed to projects such as Parc Clematis, Piermont Grand, Avenue South Residence, Treasure at Tampines, One Pearl Bank and The Florence Residences", she added.

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