Private home sales has consecutively soared in first quarter of 2021, with figures surpassing the ones in Q1 2020. This is fundamentally driven by own-stay buyers and foreigner investment. There is a extremely strong demand for space by many buyers especially during covid period since many are working from home. Many converted PRs and Singapore Citizens also seize the opportunity to get their own home in view that traveling would not be possible in the next couple of years and instead of paying rentals, they would want to pay for their own mortgage instead. Forett at Bukit Timah has sold close to 63% since its first launch in Aug-2020 and units are still selling every month as there is no freehold land supply in the west region in the next couple of years unless collective sales occur.
Source: The Business Times
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