Sales of new private homes have rebounded last month with a 9 percent forest rise.
Sales had been sluggish for the past two months.
A total of 909 new private homes were sold last month.
This is an increase of 9 percent compared to 834 homes sold in September. However that is down from the 1,216 homes sold in August. This is according to figures from the City Reconstruction Authority.
The number of homes sold in October this year was 39 percent higher than the 654 homes sold in October last year.
661 new homes went on sale last month. This is three times more than the 210 homes that opened in September. This is an increase of 39% over the previous year.
Demand for this specialty has grown significantly as a result of recent corporate scandals, according to Christine Sun, senior assistant head of research and analysis at Orange & Die.
He said sales of new homes in the suburbs were 38.2 per cent, followed by 30.9 per cent in urban and central Singapore.
Meanwhile, homeowners are buying condominium homes because the price of vacant homes is rising faster than private homes.
In the first three quarters of this year, approximately 7,169 homeowners switched to new or resale individual homes.
This is an increase of 21 percent over the same period last year, according to property consultancy firm JLL.
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