Sales of new private homes fall by half on-month in April

Sales of new private homes, excluding executive condominiums, halved to 1,375 units in April, compared to March.

This was down from the record 2,793 units sold by developers in March, the highest monthly sale volume since June 2007.

According to the latest figures released by the Urban Redevelopment Authority, the April 2013 figure was also lower than the 2,497 new home sales recorded a year ago.

The drop was mainly due to the fewer units moved in the suburbs and city fringes in April.

URA data showed that developers sold 727 new private homes in April, down 60 per cent from 1,814 in March. The number of new units moved in the city fringe region declined 43 per cent to 470 units.

But the number of new private homes sold in the city area bucked the trend, rising by 13.4 per cent to 178 units in April, compared to the month before.

Source : Channel NewsAsia – 15 May 2013

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