Home sales in Singapore are growing despite the pandemic

Sales of apartments in Singapore continue to grow despite the situation in the world associated with the coronavirus pandemic. The number of February sales was double that of last year.

According to Colliers International, citing government data, about 1,854 units were sold in Singapore in February this year, twice as many as was sold in February 2019. Also for comparison, in January 2020, the number of sold apartments in Singapore was 1,332.

The total amount deals with private housing in Singapore last year was about 35 billion dollars. More than 19,000 units have been sold in the country, including land and non-residential homes, as well as condominiums. 41 percent of the total number of transactions with real estate from Singapore were new buildings, the rest fell on the secondary market.

Singapore's economy shrank by 10.6 percent in the first quarter of 2020. The biggest drop in the last ten years was caused by the pandemic. Last week, the Singapore authorities published a series of economic stimulus measures worth $48 billion.