Citi Research’s Brandon Lee noted in a report that Singapore's private residential sales in October are expected to rebound from a significant decline in September. Data revealed that developers in Singapore (excluding executive condominiums) sold only 255 private homes in September, marking a sharp month-on-month drop of 88%. He pointed out that the steep decline in sales could be attributed to a lack of new supply. However, the launch of several new developments in October may provide support for sales.

Citi anticipates that five major new projects will enter the market in October and November, which is likely to drive a recovery in private home sales. Notably, the recently launched Skye at Holland project achieved nearly 100% sales on its opening day, establishing a positive outlook for subsequent property launches.