Singapore private homes sales, excluding executive condominium, up more than doubled from 536 units in the months of June to 1,091 units in July, according to the Urban Redevelopment Authority (URA) latest data.
The transactions spike due to the higher number of new launched units, after buyers held off on purchases during a lull in June and property developers delayed their launches avoiding the school year holidays.
A total of 624 private condo units were launched last July, compared to 234 units launched in June.
Singapore home sales bulk took place in the suburbs with 76 percent or 825 total units sold. This was followed by 19 percent or 213 units sold by the city fringe, and five percent or 53 units sold at the city centre.
The top-selling project in the month was Lake Grande by MCL Land, which sold 464 total units at $1,368 psf median price.
Meanwhile, Singapore developers sold a total of 830 executive condominiums (EC) units last month, climbed significantly from 232 total units sold in the months of June.
The most popular executive condominiums (EC) project was Sim Lian's Treasure Crest, which sold about 398 units with $751 psf median price.