{"id":7150,"date":"2016-09-19T09:22:45","date_gmt":"2016-09-19T01:22:45","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=7150"},"modified":"2022-07-01T04:03:45","modified_gmt":"2022-06-30T20:03:45","slug":"august-condo-sales","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/august-condo-sales\/","title":{"rendered":"URA: August condo sales down by 56.6 percent"},"content":{"rendered":"
<\/div>

Following a boom in the month prior, sales of condominiums in Singapore were slashed in August, latest Urban\u00a0Redevelopment Authority data showed.<\/p>\n

\"Condominium
Condominium sales in August did not keep pace with July’s results<\/figcaption><\/figure>\n

Developers sold 473 units last month, excluding those in executive condominiums (ECs), Channel\u00a0NewsAsia<\/a> reported. This was a 56.6 percent drop from July, where they sold 1,091 units.\u00a0The total number of sold units, including ECs, was 805 in August. Sales have softened from the\u00a0preceding month, where they sold 1,921.<\/p>\n

These five projects were August’s top performers: Treasure Crest EC<\/a>, Sol Acres EC<\/a>, Bellewoods\u00a0EC<\/a>, Lake Grande<\/a> and The Trilinq<\/a>.<\/p>\n

At Treasure Crest EC, 56 units were sold at a median price of $745 per square foot. Developers sold\u00a046 units at Sol Acres EC at a median of $781 per square foot. Bellewoods EC was in third place \u2013\u00a037 units were sold at a median of $769 per square foot.<\/p>\n

At Lake Grande, 35 units were sold at the median of $1,317 per square foot. A total of 30 units\u00a0were sold at The Trilinq, fetching a median of $1,413.<\/p>\n

Perhaps fewer launches in the last month affected sales. Only 590 units were launched in August, a\u00a0drop from 1,486 units in the previous month. August did not see the launch of any ECs.<\/p>\n

Observers said that the Hungry Ghost Festival could have affected transactions.\u00a0\u201cThere is also an inertia to commit as buyers remain on the sidelines due to ongoing measures and\u00a0an anticipation of further price declines,\u201d said Mr Ismail Gafoor, CEO of PropNex Realty.<\/p>\n

The company expects that around 700 units will be sold by developers every month, with the total\u00a0number of sales in 2016 surpassing 8,000 units.<\/p>\n

\u201cTransaction volume will continue to be launch driven; largely dependent on the price and location\u00a0of the project,\u201d it said in a statement.<\/p>\n

For more information, visit Channel NewsAsia<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following a boom in the month prior, sales of condominiums in Singapore were slashed in August, latest Urban\u00a0Redevelopment Authority data showed. Developers sold 473 units last month, excluding those in executive condominiums (ECs), Channel\u00a0NewsAsia reported. This was a 56.6 percent drop from July, where they sold 1,091 units.\u00a0The total number of sold units, including ECs,…<\/p>\n","protected":false},"author":17,"featured_media":54437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53601,53602,57131],"tags":[],"persona":[],"class_list":{"2":"type-post","10":"entry","11":"has-post-thumbnail"},"acf":[],"yoast_head":"\nURA 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