According to Singapore-based EDMUND TIE real estate consultants, residential sales in Singapore continued to grow for a second consecutive quarter, with new sales in Q3 2019 reaching 3,198 units, up 49.2% from Q2 2019.

Accounting for the resilience, EDMUND TIE's chief executive officer, Ong Choon Fah, reportedly 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 upgraders. The injection of ample supply last quarter, amounting to some 6,900 units, provided home seekers with abundant options in tandem with competitive pricing.”

The Outside Central Region (OCR) recorded a q-o-q sales growth rate of 67% and accounted for nearly 47% of the total sales in the country. The most popular apartment sizes ranged from 500 sq ft to 1,000 sq ft, and at prices between $1m (£568,000) and $1.5m (£852,000), Fah said that units “remained affordable for young households or singles, as well as for investors and upgraders with modest capital outlays.”

In Q3, the proportion of new sales in the $1-1.5m price range saw a q-o-q increase of 6.4 percentage points, to account for 47.1% of sales.