singapore-private-homeExcluding executive condominiums (ECs), sales of Singapore new private homes drop 56% to 473 unit in the months of August from 1,091 units sold in July, the Urban Redevelopment Authority reported.

Some analysts ascribed the transactions drop to the dearth of any major new launches due to celebration of Hungry Ghost Festival, by which it is usually a quiet season for the property market.

Sales of property developer fell about 7% year-on-year, compared to 513 units sold in August last year.

Last August, bulk of sales was recorded in the suburbs with 285 units sold or about 61% total sales. For city fringe about 139 units were sold and 49 units in the city centre.

Including executive condominiums (ECs), a total of 805 units were sold, down from 1,921 units sold in July.

The 3 best selling in August were ECs projects. Sol Acres in Choa Chu Kang by MCL Land with 46 units sold, a total of 37 units sold for Bellewoods in Woodlands, and 56 units sold for Treasure Crest in Sengkang.

 

Written by Siang Teck of Property Review. I can be contacted at [email protected]