August new home sales surge to 11-month high on pent-up demand: The Business Times

From past observation, stock market always run ahead of the property market. Analysts observed a strong turn around in both markets in recent months, defying the weak economic environment as GDP is expected to shrink by 6% this year according to a poll by MAS. Ministry of Manpower also recorded almost 10,000 retrenchments in the first half of this year due to the pandemic. Many analysts are surprised by the strong take up rate as August’s direct developers’ sale reached an 11-month high of 1227 units.


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