Private home sales in Singapore dropped by 49 percent in June from May, according to the latest statistics released by the Urban Redevelopment Authority (URA).
In June, a month of typically slow sales, developers sold just 536 units. This was a sharp dip from 1,058 units in May, where a 10-month high was reached.
Still, home sales in June this year were 43 percent higher as compared to a year ago, where developers managed only 375 transactions.
A report by The Straits Times claimed that June’s sales were dampened by factors such as nationwide school holidays and a slump in fresh property launches. In May, sales were lifted by the launch of Gem Residences in Toa Payoh and Stars of Kovan, that is a short walk from the MRT.
URA data showed that in June, developers put up 234 new private homes for sale, a fraction of 1,345 fresh units in May. There were no executive condominiums launched in the two months.
Sales in June were spearheaded by homes in suburban areas, where 324 private units were sold. AÂ total of 166 units were sold just outside the city region, while the core central region witnessed 46Â transactions.
The Kingsford Waterbay condominium at Upper Serangoon View was the month’s best seller with 34 transacted units. This was closely followed The Glades, located at Bedok Rise, where developers managed to sell 32 units. In third standing was Kingsford Hillview Peak at Hillview Rise, with 31 sold units.
Including the sales of executive condominiums, a total of 768 units were sold in June, a decline from 1,392 units reflected in May’s sales.
Bellewaters at Anchorvale Crescent was the best-performing executive condominium, as developers managed to sell 43 units there.
Visit The Straits Times for the full report.
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