Developers’ sales of new private homes fell by 49 per cent in June, after they surged to a 10-month high in May.
According to the data released by the Urban Redevelopment Authority on Friday (July 15), developers sold 536 new units in June as compared to the 1,058 units transacted the month before.
However, if comparing to the sales figure a year ago, June 2016 sales were 43 per cent higher than the 375 units sold in June 2015.
Sharp drop in new project launches owing to the June school holidays contributed to the decline in June’s sales. Surge in May’s sales was because of the new launches Gem Residences and Stars of Kovan and steady sales in projects released earlier.
Developers placed just 234 new private homes for sale in June, compared with the 1,345 units launched in May. No new executive condominiums (ECs) projects were launched in both months.
The best selling private residential projects in June were Kingsford Waterbay at Upper Serangoon View which moved 34 units, followed by The Glades at Bedok Rise with 32 units and Kingsford Hillview Peak at Hillview Rise with 31 units.
When ECs sales were included, total sales came in at 768 units. That’s down from a total of 1,392 units sold in May.
The top performing EC project last month was Bellewaters at Anchorvale Crescent which sold 43 units.