Demand for new private homes falls in August

Demand for new private homes fell in August after recording a strong rebound in July.

According to data released by the Urban Redevelopment Authority (URA), 1,421 units of new homes were sold in August, excluding Executive Condominiums (ECs).

This was a 27 per cent drop from July’s sales.

The best seller for August was One Dusun Residences in Balestier. Buyers snapped up 153 units of the 154 units launched during the month.

The next popular development was Parc Olympia located in Loyang, which sold 110 units last month.

Bartley Residences was the third best-selling project, with 70 units changing hands in August.

Numbers from URA showed that sales of new units in the suburban areas recorded the sharpest decline — from 1,509 units in July to 835 units in August.

Sales in the core central region also dipped, from 253 units in July to 218 units in August.

Meanwhile, demand for new homes in the city fringe rose — 368 units were sold in August, more than double the sales in July, when 181 units were sold.

Including ECs, URA said a total of 1,539 new homes were transacted in August, compared to 2,067 units sold in the previous month.

Developers placed 1,118 units of new homes for sale in August.

Source : Channel NewsAsia – 17 Sep 2012

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