New private home sales fall 19.4% in June

The number of new private homes sold in June continued to fall for the second consecutive month, according to the latest data released by the Urban Redevelopment Authority (URA).

Developers sold 1,371 private homes (excluding executive condominiums) in June, down 19.4 per cent from May when 1,702 units were sold.

May’s private home sales figures had dropped 32 per cent compared to April and, for the first time, bucked the strong sales growth momentum recorded in the first four months of the year.

In June, 1,111 new private homes in the suburban areas, or Outside Central Region (OCR), were sold, 8 per cent lower than in May.

The biggest dip in the number of sales came from the city fringes, or Rest of Central Region (RCR). 119 new private homes in the city fringes were sold — a 67.2 per cent decline compared to May.

But 141 new private homes in the city or Core Central Region (CCR) were sold, four per cent higher than in May.

The two top selling private condominium projects in June were River Isles located in Punggol with 263 units sold and Sea Esta in Pasir Ris with 255 units sold.

The best performing executive condominium sale was Watercolours at Pasir Ris, with 201 units changing hands in June.

Including executive condominiums, a total of 1,725 units of new homes were sold last month.

Source : CNA – 2012 Jul 16

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